TDS

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies that a deductor cannot directly claim a refund for Tax Deducted at Source (TDS) that was paid in a subsequent financial year, even if the supplier has already filed their tax returns. The deductor must wait for the deductee (the supplier) to claim the refund and then be reimbursed. Furthermore, the deducted TDS amount cannot be applied to other supplier invoices.

Venkatraman

Venkatraman (Querist)

07 July 2020 Hello All,
I have a question on TDS, appreciate your clarification. We have deducted TDS from Supplier's invoices focr previous year's ie. for FY 2018-19 TDS paid in FY 2019-20. Assuming that the Supplier has already filed his IT Returns for FY 2018-19 and paid the required Tax, can I submit a claim for refund of the TDS that was paid? Please explain the process to be followed.
Regards

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

07 July 2020 The deductor cannot raise such a claim since there is no provision in the act/rules.

Venkatraman

Venkatraman (Querist)

07 July 2020 Thank you for the reply, Sir. So I will have to wait for the deductee to claim refund and then pay me back the TDS amount that I have paid.
Also this TDS amount cannot be used and applied any other Supplier Invoice, correct.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

07 July 2020 Yes Sir, your understanding is absolutely correct.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now