TDS
This query is : Resolved
11 December 2019
A professional who follows mercantile system of accounting raises a bill to one of his client for ₹ 2,00,000/- in the month of Mar’19. The client concerned follows cash system of accounting.
The client makes payment of ₹ 2,00,000/- minus TDS of 20,000/- in the month of July’19 & reports the TDS for A.Y 20 – 21. There will be difficulty for the professionals to claim credit for the TDS for A.Y 20 – 21 because there is no corresponding income for that relevant year. Can experts give their view how to address this situation.
The client makes payment of ₹ 2,00,000/- minus TDS of 20,000/- in the month of July’19 & reports the TDS for A.Y 20 – 21. There will be difficulty for the professionals to claim credit for the TDS for A.Y 20 – 21 because there is no corresponding income for that relevant year. Can experts give their view how to address this situation.
30 May 2020
There can not be any difficulty to claim TDS Refund. ITR have to be filed within due date u/s 139.
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