Tds credit of ay 2013-14
This query is : Resolved
sourabh tukliya
(Querist)
10 June 2014
I received interest on IT refund of ay 2012-13 in ay 2014-15. tds deducted on this interest is reflecting in 26as of ay 2013-14. i did not claimed this tds in ay 2013-14. i neither booked this interest amount as income nor claim the tds amount in ay 2013-14.
can i claim this tds in ay 2014-15?
Sandeep Dharar
(Expert)
10 June 2014
Yes, u can claim it in 14-15.
Nikhil Kaushik
(Expert)
10 June 2014
the rule of income tax is that tds credit is to be claimed in the year income accrued to the assessee. for interest on income tax refund accrues in the year in which tax refund was given. So, if the interest is reflecting in AY 2013-14, the same is to be claimed in AY 2013-14 itself.
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