tds
This query is : Resolved
17 September 2009
tds deducted but not deposited, how deductee will get tax credit to claim refund.
if tds deducted but not deposited whther form 16 can be given by deductor.
tds deduted but deductor not deposited the same, but in next financial year, deductor issues a cheque to deductee for tds deduction, now what will be the implication, whther such amount of tds which was refunded by deductor will be treated as income for next financial year.
if tds deducted but not deposited whther form 16 can be given by deductor.
tds deduted but deductor not deposited the same, but in next financial year, deductor issues a cheque to deductee for tds deduction, now what will be the implication, whther such amount of tds which was refunded by deductor will be treated as income for next financial year.
Shyam Lal Naik
(Expert)
18 September 2009
The deductor has not deposited the tax. Question of refund does not arise.
In the absence of deposit of tax, for 16 can not be issued.
If the amount of TDS deducted, but not deposited, is refunded by the deductor lateron, the amount is not income. The deductee need only to reverse the entry for TDS deduction and receipt of the same.
In the absence of deposit of tax, for 16 can not be issued.
If the amount of TDS deducted, but not deposited, is refunded by the deductor lateron, the amount is not income. The deductee need only to reverse the entry for TDS deduction and receipt of the same.
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