TDS CLAIM
This query is : Resolved
Sunesh Agarwal
(Querist)
23 November 2010
IF A PERSON ACCRUES Rs. 20,000 YEARLY INTEREST AND Rs. 2,000 IS DEDUCTED EVERY AS TDS AND HE WANTS TO SHOW Rs. 1,00,000 AS INTEREST INCOME AT THE END OF 5TH YEAR ON CASH BASIS. IS IT POSSIBLE FOR HIM TO CLAIM COMPLETE TDS OF Rs. 10000(2000*5) IN THE RETURN IN WHICH HE IS SHOWING INTERSST INCOME OF 1,00,000.
TDS CERTIFICATES ARE ISSUED YEARLY BY THE DEDUCTOR
TDS CERTIFICATES ARE ISSUED YEARLY BY THE DEDUCTOR
Gayathri Devi
(Expert)
23 November 2010
For interest income the Accrual Basis of accounts should want to be followed
Therefore there is no question for cash basis
Therefore there is no question for cash basis
taxindiaconnect
(Expert)
23 November 2010
Accure interest and claim TDS every year. Cash basis not not possible neither advised.
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