k. sharmila (Articled) (28 Points)
23 December 2011The assessee is not deducted TDS on contracts and filed Income Tax return and in the mean time the Contractor filed the return of income and paid the tax due. Now whether TDS provision attracts the assessee or not because the Assseessment order is passed in favour of the contractor and he is not in a position to revise the return though the assessee deduct the TDS. Whether any decided case law in favour of assessee is there- suggest me
Regards
Sharmila. K
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 23 December 2011
when the assessment is completed for contractor (payee) so fast for same AY, it must have been 143(1) intimation. If the payer now pays the TDS and revises the quarterly TDS return under intimation to payee, the contractor can file a revised return if the original return is not a belatedly filed.
Has the payee shown the income in its return for which there was no TDS made by the payer ?
CA Kumar Mukesh
(CA CMA FINAL and Advance Excel Trainer)
(6881 Points)
Replied 23 December 2011
I my opinion assessee should deduct TDS in current financial year
because it will not allowed as deduction in that financial year since assessee fails to deduct TDS also
but if TDS is deducted now then it can be allowed as deduction
CAclubindia
