TDS

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This query is : Resolved

Vinod (Querist)

11 February 2011 One of my client got a payment after deducting T.D.S. of Rs. 7 lakhs. Thus he showed such T.D.S. in his balance sheet asset side. But he claimed T.D.S. of Rs. 4 lakhs in the computation of income while filing the return of A.Y. 2008-09 as he had got T.D.S. certificates of that amount only & T.D.S. certificates of Rs. 3 lakhs were not available at that time.

Now in January 2011, the Assessee has received the balance T.D.S. certificates of Rs. 3 lakhs and also 26AS in the N.S.D.L. site is showing the total T.D.S. of Rs. 7 lakhs. So the Assessee wants to claim the remaining T.D.S. of Rs. 3 lakhs.

So please reply how the Assessee can claim the T.D.S. as the period for filing revised has lapsed as revised return can be filed till the end of Assessment which was 31st December 2010 for A.Y. 2008-09?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

13 February 2011 Your assessment is already completed.
Better. file an application for revising the order U/s 154 to the ITO.

Vinod

Vinod (Querist)

13 February 2011 Sir how can the order be rectified u/s 154 when i myself havnt claimed it in my returns.

Is there any other option or this is the only option. Do you have some practical experience on this or do u hav some case law on this issue.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

13 February 2011 There is no problem in opting this way of filing an application. The concerned departmental official will also guide you

(looking towards the amount involved).

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