TDS
This query is : Resolved
23 November 2010
Suppose
I invest 10,00,000 in FD for 5 years on 01.04.08.
Interest is 10% p.a. simple interest.
Interest income per year = 1,00,000.
Bank credits FD with 90,000
Deduct TDS 10,000 each year.
I follow cash accounting system.
I take interest of 5,00,000 as my income in the 6th year.
How and when will i get TDS credit????
I invest 10,00,000 in FD for 5 years on 01.04.08.
Interest is 10% p.a. simple interest.
Interest income per year = 1,00,000.
Bank credits FD with 90,000
Deduct TDS 10,000 each year.
I follow cash accounting system.
I take interest of 5,00,000 as my income in the 6th year.
How and when will i get TDS credit????
23 November 2010
yes...
the income & tds must correspond to each other.
the income & tds must correspond to each other.
23 November 2010
Income will be credited after adjusting the TDS by Bank. There is no difference as such between both the methods
23 November 2010
In my opinion u can claim TDS credit in the year when you show income for the year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
