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TDS by Others

24 September 2007

Dear all , TDS certificate if we receive within two yr.is sufficient for claiming in ROI but the question is that One invoice was booked by us on 31st march 2007 and our party( Debtor) has booked it in their books in April 2007(Financial yr. 2007-08,because they are maintaining books on cash basis, in airlines industry this is permissible,they deducted tds in financial year 2007-08 & deposited the same to the government) can we claim this TDS amount in our ROI for financial year 2007-08 or 2006-07?
I hv booked my income in finan. yr. 2006-07.

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4 Replies

satynarayan tiwari (Professional) (78 Points)
Replied 24 September 2007

Hi, Neeta you definately claimed thses TDS Certificate in your ROI subject to that your TDS was deducted and deposited into the bank

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Ravikumar.G (Consultant) (18525 Points)
Replied 24 September 2007

We can claim rather they would have paid to the Government. If they deducted from but not paid paid to the Government within the due date they will be penalised. Meanwhile you can confirm your TDS whether it is paid or not from official nsdl website. If u give ur Pan it will give all your details.

Late CA Sampat Jain (Chartered Accountant) (4772 Points)
Replied 24 September 2007

Refer to section 155 also : 155(14) Where in the assessment for any previous year or in any intimation or deemed intimation under sub-section (1) of section 143 for any previous year, 28[credit for tax deducted or collected in accordance with the provisions of section 199 or, as the case may be, section 206C] has not been given on the ground that the certificate furnished under section 203 [or section 206C] was not filed with the return and subsequently such certificate is produced before the Assessing Officer within two years from the end of the assessment year in which such income is assessable, the Assessing Officer shall amend the order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, as the case may be, and the provisions of section 154 shall, so far as may be, apply thereto : Provided that nothing contained in this sub-section shall apply unless the income from which the tax has been deducted [or income on which the tax has been collected] has been disclosed in the return of income filed by the assessee for the relevant assessment year.