Income tax payable

This query is : Resolved

CA Pratiggya (Querist)
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09 January 2016 An assesse had filed his ITR AY 14-15,there was some tax payable, The assesse has huge TDS being deducted in AY 15-16 so wants to claim the TDS of AY15-16 for the tax due in AY 14-15. Is this valid? Coz as per my understanding, an ITR which has tax payable is void and TDS of succeeding yr cannot be claimed in such way. It can only be adjusted after assessment. And what is the implication if the assesse is not paying the tax after filing his ITR?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 January 2016 Assessee can't choose set off of tax liability of a preceding year against refund of a succeeding year.

If filed with out paying self assessment tax , demand will be raised by the department for asst year 2014-15.

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