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.
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