Tds credit

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Sourbh Aggarwal (Querist)
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02 May 2019 Hello !

My query is that
If a company shows its income on accural basis in ITR AY 2017 -18 but customers show this as expenses in AY 2018-19 and also deduct the tds in ay 2018-19 & file the tds return accordingly. Now i want to knw that income has been shown in AY 2017-18 and its tds is reflected in 26AS IN AY 2018-19, whether tds credit can be claimed in AY 2018-19?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2019 Yes TDS credit can be claimed in AY 2018-19.

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Sourbh Aggarwal

Sourbh Aggarwal (Querist)
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02 May 2019 Sir, can u tell me where it is written?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2019 TDS credit can be claimed only prospective not retrospective.

Sourbh Aggarwal

Sourbh Aggarwal (Querist)
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02 May 2019 Sir section says tds credit can be claimed in the year in which u book the respective income.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2019 That is you can take TDS credit to next year when you book that income in next year. you can take the credit forward not backward.

Sourbh Aggarwal

Sourbh Aggarwal (Querist)
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02 May 2019 Thnku sir, if i want to give opinion on this matter, is there any legal reference that credit can be taken forward not backward?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 May 2019 Refer ITR form TDS schedule it's allowed forward only

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