tds not claimed last year

1055 views 3 replies

hii everyone

can any 1 solve my query:

one person took unsecured loan in 08-09 and charged interest on it and accordingly deducted tax and deposited it with govt. But the person giving the loan didn't claimed the tds benefit neither booked the interest income in F.Y. 08-09 but had filed his ITR within due date.

so the person giving the loan can book his income in F.Y. 09-10 and claim the tds on such interest income which was not claimed in F.Y. 08-09???

please reply with your valuable comments.its urgent..

thanx

Replies (3)

No he cannot claim the TDS

Pl note that TDS claim must be made in the year in which the income pertaining to it is taxable. If, inadvertently the income is not declared - filing a revised return is an option. However, ensure that the time limit for filing the revised return is not over. In any case, one year's TDS cannot be claimed in the subsequent year.

u can file the revised return for that year and u can claim the tds credited to his account..

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