claim of Interest income & TDS

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Goutam Jain (Querist)
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16 July 2011 Loan given by assessee. The opposite Party provides interest nd deduct tds in the year 08-09 nd pays interest to assessee in 09-10. Since assessee didn't receive interest & TDS cert., did not disclose interest & also not claimed TDS. Whether assesee has to revise the return? Both year's return are filed. Revision of return is the only option. year 08-09 is under scrutiny if 08-09 is revised, there could be penalty on concealment. To avoid this, can he disclose income in year 09-10 & claim tds. In this case, Can tds deducted for 08-09 be claimed in 09-10. Pl. advise.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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16 July 2011 If you can prove that the correspondences of Interest earned / TDS deducted & actual interest is actually received after filing of ITR of 08-09 , then your point of taking the same in 09-10 is justified.

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