Tds

This query is : Resolved

Yash Goyal (Querist)
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31 July 2013 The 26AS of an assessee for FY 2012 - 2013 (in month of July 2012) is reflecting TDS deduction u/s 195 by the Commissioner of Income Tax, CPC Bangalore. The status of this entry in 26AS is "P" i.e. Pending and there have been no updation in this TDS entry till date. The assessee has received IT Refund during the year, however Interest on IT Refund is not subject to deduction of TDS. There is a lot of confusion regarding this TDS entry.

Kindly advice regarding the nature of such TDS deduction and what needs to be done from assessee's end. Also what to be done to this TDS entry while filing of IT Return.

Thanks & Regards
Yash Goyal

CA UMESH DULAL

CA UMESH DULAL (Expert)
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31 July 2013 as the payment is made to non-resident, interest on tds refund is taxable hence tds is deductible.

take credit of tds while filling return.

Yash Goyal

Yash Goyal (Querist)
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31 July 2013 But sir the assessee is not a non-resident. it is a resident partnership firm

Yash Goyal

Yash Goyal (Querist)
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05 August 2013 The assesse is a resident partnership firm. Also the IT dept has deducted tds again on refund of fy 12-13 received a week back. Kindly advise what can be done now as the assessee is not a non - resident.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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06 August 2013 Make an appeal against the order

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Yash Goyal

Yash Goyal (Querist)
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06 August 2013 Ok sir. Thank you.

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