Defective Return - Tds on advance
This query is : Resolved
30 October 2024
The assessee is a contractor. The contractee has done the tds on the whole amount paid 6cr. Where as the assessee has considered the amount as inclusive of GST and filed the GST and ITR on 5.08cr turnover the same has also been considered in the audited financials and TAR. The ITR has been filed by claiming the tds for the whole of 6cr and it became defective. Any suggestions on how to proceed further.
Note: The contractee is not willing to revise the tds by saying that he has paid the whole amount as advance.
Note: The contractee is not willing to revise the tds by saying that he has paid the whole amount as advance.
31 October 2024
File rectified return and claim TDS as per your contract value declared in the ITR.
31 October 2024
ok sir. and what to do with the remaining credit of tds
31 October 2024
Actually, you do not have rights to claim it. Deductee can claim it from the deductor, as he has to deduct as per rules. For that you can argue with reference to GST return and the TDS deduction rules.
31 October 2024
ok. Thanks a lot sir for your precious advice and time.
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31 October 2024
You are welcome.
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