failed to claim tds

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This query is : Resolved

tarun (Querist)

01 August 2010 My client is having income from commission.He booked in his account commission income of Rs.10000000/- for f.y.2008-09

The company which pays commission to him deducted tds as follows in F.Y.2008-09

Commission paid TDS deducted

Actual Expenses uptill 31/03/2009
Bill no-1 8000000 800000
Bill no-1 2000000 200000

Provisional basis(it is not the expenses of
current year) Bill no-2 2000000 200000

The company gave two tds certificate to my client and forgot to give the third one of Rs.200000/-(bill no-1)
Bill no-1 800000
Bill no-2 200000

Due to which My client claimed the above amount of Rs.1000000/- (bill no-1 + bill no-2) as tds in his rerturn on income filed on 30/09/2009 because he was unaware of the fact that the company has deducted tds on provisional basis
He thought it was tax deducted on Rs.10000000(bill no-1),but in reality it was tds on Bill no-1 and bill no-2

Now in the Current F.Y2009-10 he has recived Rs.2000000 as commision(bill no-2)

my client demanded tds certificate for the same of Rs.200000, the company said we have already sent the certificate, so we will not give the tds certificate again

Now Can my client claim TDS on Rs.2000000(Bill no-2) which was wrongly claimed in F.y.2008-09

and what is the treatment of Rs.200000 (bill no-1)tds which has not claimed so far

MK GUPTA (Chartered Accountant

MK GUPTA (Chartered Accountant (Expert)

01 August 2010 You could took the credit of Rs. 2 Lakh in 2008-09 FY itself by following these points: -
1) Approach that company, who deducted TDS to provide you with the certified True copy of FORM 16A
2) Verify its contents online under "View your credits online"
3) If the TDS deducted is reflecting to the credit of your account, then took a print out of the same
4) File a rectification application u/s 154 to the assessing officer along with the certified True copy of the FORM 16A and the Print out
5) Some times the department may ask for indemnity bond, which we may give.

CA MK Gupta

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