20 June 2014
my client not deducted tds from rent april 12 to oct 12, after, he came know he has to deduct tds from rent. he has deducted tds entire period of april 12 to oct 12 from nov 12 and the same deposited with interest in bank. Tds certificate issued/submitted to landlord dec 13
Now, the landlord not accepting tds certificate and asking payment of tds amount, as he already filed IT return pertain 2012-13. my question is the landlord can adjust tds in 2013-14. He got credit in his account. How do we get ride out.
20 June 2014
it is immaterial what landlord wants. he can revise the return to claim the credit for tds deducted. there is no way to adjust the tds once it has been rightly deducted
Now, my client saying that he is unable to utilise tds certificate which was issued by my client. is it possible/ any provision, tds certificate of one financial year can be utilized in subsequent financial year
TDS cannot be carried for if the income has already been offered to tax. the landlord has to revise the tax return and include the tax credit in the same.
CAclubindia
