Non receipt of net payment but TDS filed later and ITR revised return not filed

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A professional received TDS for a service fee but hasn't been paid the net amount. They filed their original ITR, and the income is reflected in their account. Now, they're seeking advice on the implications if the payment isn't received by year-end, whether the income can be deferred, and if a revised return or expense claims under sections like 44ADA could mitigate their tax liability.

thirumalaidasan.k

thirumalaidasan.k (Querist)
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26 February 2025 Dear Experts,

I had a commitment to receive Rs 15,00,000 as compensation for services rendered, which was later confirmed via email on 14-03-2024 and included in the draft balance sheet of the payer company (X). TDS of Rs.75,000 was deducted and deposited on 31-10-2024 under Section 194H. However, the net payment of Rs 14,25,000 has not yet been received.

I originally filed my ITR on 01-06-2024 and received a no-due intimation. Given that the IT portal has captured the Rs 15,00,000 in my account for FY 2023-24, I did not file a revised return by 31-12-2024.

My questions are:
If the payment is not received by 31-03-2025, what are the implications?
Can this income be deferred to FY 2024-25, given that I have not yet received the amount?
If I file a revised return during AY 2025-26 and pay the tax, but the payment is never received, can I claim a refund or adjust it in the next FY?
Are there any alternate approaches, such as claiming expenses under Section 44ADA or other provisions, to minimize tax liability?
I would appreciate expert guidance on the best course of action.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 February 2025 what is your total income for the year? including this 15 lakhs.

thirumalaidasan.k

thirumalaidasan.k (Querist)
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26 February 2025 Gross Salary including Performance linked pay was around 16 L

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 February 2025 its salary or professional fee?

thirumalaidasan.k

thirumalaidasan.k (Querist)
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26 February 2025 TDS amount Rs 75000/- deducted and paid was for professional fee from a group company. I am a salaried professional.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 February 2025 if it is being paid as professional fee, then I would not worry today whether the fee is received or not, you can file the return under 44ADA/44AD and practically pay not tax. mostly 100% of the tax deducted will be refunded to you.

thirumalaidasan.k

thirumalaidasan.k (Querist)
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26 February 2025 Thanks for your reply.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 February 2025 you are most welcome :)

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