Non filing of tds returns and intimation u/s 143(1)

Save Share

This query is : Resolved

Anu (Querist)
Follow

08 June 2015 Dear Experts,

An assessee is engaged in a profession and is covered under Tax Audit. He has TDS credit from various parties every year. For the AY 2013-14, he has received intimation u/s 143(1) showing a demand, which is due to TDS credit mismatch. On verification it was found that the TDS pertaining to a regular client was not reflecting in 26AS, although he has effected TDS on his payment to the assessee.
Now what is the recourse available to the assessee?
Whether the assessee can reduce his income to the extent of TDS effected and file a return with updated tax and related interest? if so under what section is this return to be filed?

Kindly clarify ASAP.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

08 June 2015 income is not linked to TDS credit. You need to ask the deductor to check his/her/its TDS return

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

08 June 2015 Ask the deductor to check his TDS return and revise the same if required. Once it gets reflected you can file rectification request u/s 154 to nullify the demand.

If TDS has been deducted from you then you can not be denied TDS credit because of carelessness of the deductor.

See below link in this regard:

https://www.caclubindia.com/forum/details.asp?mod_id=258273#.VXWbf8-qqko

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now