Tax credit
This query is : Resolved
04 July 2012
How can we claim tax credit on tax already paid in succeeding AY in current AY??
04 July 2012
If tax deposited through physical challan the correction in Assessment Year can be made by bank within 7 days.
Otherwise you have to write a letter to your Assessing Officer along with a copy of the challan, requesting for the correction in the Assessment Year.
Otherwise you have to write a letter to your Assessing Officer along with a copy of the challan, requesting for the correction in the Assessment Year.
04 July 2012
In this regard you may refer to the following instructions from below link given in NSDL site--
https://www.tin-nsdl.com/oltas/oltas-note.php
https://www.tin-nsdl.com/oltas/oltas-note.php
04 July 2012
Thank you..Can you give me a reference for claiming the credit??
04 July 2012
What Reference? Please elaborate...
04 July 2012
Any case laws or any provision in the act regarding claiming of such credit.
04 July 2012
Please refer to the link given above...
From what i understand you have wrongly deposited the Tax in next AY so just correction in AY is required.
From what i understand you have wrongly deposited the Tax in next AY so just correction in AY is required.
04 July 2012
The case is like this..
Sale consideration of Rs 200 was received in parts. 150 in AY 08-09 and 50 in 09-10. We paid tax accordingly in respective AY. during assessment it the AO considered 50 in AY 08-09 as it was the year of sale and also charged 50 in 09-10. So how can we claim the tax credit??
Sale consideration of Rs 200 was received in parts. 150 in AY 08-09 and 50 in 09-10. We paid tax accordingly in respective AY. during assessment it the AO considered 50 in AY 08-09 as it was the year of sale and also charged 50 in 09-10. So how can we claim the tax credit??
04 July 2012
Have you paid the taxes? If you have not paid the tax second time you need not pay same and apply for rectification of mistake u/s 154 of the Income Tax Act, 1961 along with the relevant documents.
04 July 2012
We have paid part amount and want to claim the credit after paying the remaining amount..How can we justify our claim??
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