Credit of tds certificates

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 August 2011 can we claim TDS cretificate credit in any following year after the year in which concerned income was booked /accounted

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 August 2011 Yes, U can do but income from that also has been concerned in the same year in which year the TDS claimed. Let think if u r following cash basis accounting system any income paid by the payer who follows accrual basis of accounting by cheque and drawn on 31st march but the same has been received by the assesse on 4th April(after 31st March) and realised into the bank after such date and accounted on the realised date and concerned as Income so u should claim tds on the following month. IF U OBSERVED THE ANNEXURE FOR TDS deducted through FORM 16A there is the column: TDS CLAIMED FOR THIS YEAR this sentence gives u clear for u doubt. for u r confidence for some of our assesse we are claiming TDS credit in the following year of which it was deducted.
OM SAI SRI SAI JAI JAI SAI

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