Dear sir,
My client received amount of Rs 773050/- as compulsory land acquisition with 10% TDS which amounting 77305/- for year 2017 18. However the concerned office Deducted the TDS wrongly u sec 193 as interest on securities.
When I filed my clients return for AY 2017 18, they sent me notice u sec 139(9) saying that "as per rule 37BA of IT Rules,1962 read with sec 199 of the IT Act , 1961, credit of tax deducted at source shall be given for the assessment year for which such income is assessable. As seen from the return of income filed , credit for TDS has been claimed but the corresponding receipts/ income has been omitted to be offered for taxation" and probable resolution for the same is "The gross receipts/income, on which tax has been deducted, are to be entered in the schedules under the respective heads of income, as they are assessable in the year in which the credit for the TDS is being claimed"
For this problem what should be the solution.... shall I contact to the office who deducted the TDS to rectify the same.
Regards,
Yes, get TDS certificate from the deductor after rectification of correct section.
CAclubindia
