TDS Carried Forward
This query is : Resolved
07 October 2025
TDS of ₹70,000 has been deducted and deposited under Section 194-IA during the Financial Year 2024–25 (A.Y. 2025–26) against part payment received for sale of property. However, the sale deed has been executed in the subsequent Financial Year 2025–26 (A.Y. 2026–27).
Kindly clarify the correct treatment in the Income Tax Return — whether the TDS entry should be completely deleted from A.Y. 2025–26 and manually entered in A.Y. 2026–27, or whether it should be retained in A.Y. 2025–26 with NIL corresponding income and a note stating that the TDS credit of ₹70,000 is being carried forward to the next assessment year as per Rule 37BA(3) of the Income-tax Rules, 1962.
Kindly clarify the correct treatment in the Income Tax Return — whether the TDS entry should be completely deleted from A.Y. 2025–26 and manually entered in A.Y. 2026–27, or whether it should be retained in A.Y. 2025–26 with NIL corresponding income and a note stating that the TDS credit of ₹70,000 is being carried forward to the next assessment year as per Rule 37BA(3) of the Income-tax Rules, 1962.
07 October 2025
Retain the TDS entry in Schedule TDS 2.
Show “NIL” taxable income from the property sale for this year.
In the row for that TDS entry, do not claim the TDS credit in this year.
Instead, fill the relevant column ( "TDS credit being carried forward") with the amount of TDS to be carried forward.
Show “NIL” taxable income from the property sale for this year.
In the row for that TDS entry, do not claim the TDS credit in this year.
Instead, fill the relevant column ( "TDS credit being carried forward") with the amount of TDS to be carried forward.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Putting a heading on received mail
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
