aasita (ACA) (387 Points)
22 August 2009If i failed to deduct TDS in the march 09 but i deducted and paid in Aug 09 before filing tax audit report.After this i issued TDS certifacte to recepient for the A.Y 09-10 but opposite party has already filed return in July 09 and opposit party will not be able to claim in next year since next yr for him will be A.y 10-11 so do opposit party has to revise return?
CA Harish Suwalka
(Chartered Accountant ( Bhilwara ))
(4125 Points)
Replied 22 August 2009
if you have not deducted the tax Aug. and in aug. you deducted and issued a certificate !
1. You Should issue a certificate in current financial year in which you deducted i.e. 2009-10, as you will unable to claim the concerned Exp. as the last date of tax deposition is passed away. but you can claim these in next year
2. First of all you should revise your own TDS return of that A.Y
3. he can also claim the TDs in Next a.y Return, as per rules if a tds is not claimed in that a.y. than it can be claimed in the next year
RITESH KOTHARI
(B.COM, FCA, DISA(ICAI))
(778 Points)
Replied 22 August 2009
DEAR HARISH,
CAN YOU PLEASE QUOTE THE RULE NO. OR WHATEVER WHICH ALLOWS YOU TO CLAIM TDS IN SUBSEQUENT YEAR.
DEAR AASITA,
YOU SHOULD ISSUE TDS CERTIFICATE FOR AY 2009-10 ONLY.
THE CONCERNED PARTY HAS TO FILE A REVISED INCOME TAX RETURN TO CLAIM THAT AND YOU HAVE TO FILE A REVISED TDS RETURN FOR THE LAST QUARTER OF FY 2008-09.
AND THE RELATED EXPENDITURE WILL BE DISALLOWED IN FY 2008-09 BUT ALLOWED IN FY 2009-10.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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