Tds credit
This query is : Resolved
02 July 2014
State Bank of India has not deducted TDS on the interest on fixed deposit for the FY 2013.14. The reason given by the bank was 0% interest was wrongly charged on that deposit, hence no interest no TDS. Subsequently the said mistake was discovered at the time of prematured withdrawal in April 2014, the bank gave credit of the full interest but made TDS on the entire interest including interest for FY 2013.14 showing it as interest pertaining the period FY 14.15.
Can the depositor claim the TDS which is made in Apr 2014 as he follows accrual system of accounting and has to include the said interest income for AY 14.15.
Can the depositor claim the TDS which is made in Apr 2014 as he follows accrual system of accounting and has to include the said interest income for AY 14.15.
02 July 2014
Yes you can show that income as well tds thereon in return of AY 2015-16
Rupesh Jain
(Expert)
02 July 2014
if it is in A Y 2014-15 then you can show income in F y 2013-14.
if it is A y 2015-16 then you can file in next year FY 2014-15
if it is A y 2015-16 then you can file in next year FY 2014-15
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