tds difference
This query is : Resolved
kiran keni
(Querist)
14 August 2008
for the f.y. 2006-2007 we had deducted tds on sub contract work to party Mr.A, however the certificate was received late by him & he had already filed income tax return. Can he claim tds in f.y 2007-2008? both of us follow accural system.
CA.Tarun Maheshwari
(Expert)
16 August 2008
If, Mr.A has followed accrual system ,then it is clear that he has recognised his income in year 06-07 itself and paid taxes on that income. Now, in my opinion, he should claim TDS in 07-08, and later on in assessment proceedings, if ask, he can present his explanations to prove this effect.
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