Differnece in 26AS payment and turnover declared in gst returns

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This query is : Resolved

tony (Querist)

26 June 2023 Dear Sir,
A contractor has shown turnover in fy 2021-22 on billing basis in his gst returns and filed his IT return accordingly, whereas contractee department has shown this turnover in fy 2022-23 on payment basisin fy 2022-23, therefore reflecting in 26as of fy 2022-23.
How to deal while filing itr for fy 2022-23?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 June 2023 In order to remove this difficulty, inserted a new sub-section (20) in section 155 of the Act. This new sub-section applies where any income has been included in the return of income furnished by an assessee under section 139 of the Act for any assessment year (hereinafter referred to as the “relevant assessment year”) and tax has been deducted at source on such income and paid to the credit of the Central Government in accordance with the provisions of Chapter XVII-B in a subsequent financial year. In such a case the assessee can make application in the prescribed form to the Assessing Officer within two years from the end of the financial year in which such tax was deducted at source. Then Assessing Officer shall amend the order of assessment or any intimation allowing credit of such tax deducted at source in the relevant assessment year

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