Tds credit

This query is : Resolved

shrikant (Querist)
Follow

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.

CA Madhvi

CA Madhvi (Expert)
Follow

02 July 2014 Yes you can show that income as well tds thereon in return of AY 2015-16

Rupesh Jain

Rupesh Jain (Expert)
Follow

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

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Michael & Co.

CA K GIRIDHAR

Samruddhi Agrawal

MURALIKRISHNA EDDANAPUDI

Namita Fule

Subscribe Now

Tds credit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Accountant

GST CONSULTANT

CA Final

GST CONSULTANCY

Manager- Finance and Compliance