TREATMENT OF TDS

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This query is : Resolved

s (Querist)

27 September 2007 I had invested in krishna bhagya jal nigam deep discount bonds in the year 1995-96.Said bonds were to be redeemed in june 2006 but said company maintained silence and it was only when i took up the matter with them persistently with the help of sebi that they responded and assured of sending the proceeds and tds certificate before 31st july 2007 i.e date for filing return in my case.However the company did not send the tds certificate before aforesaid cutoff date so as to enable me to avail/ adjust the tds benefit amounting to about Rs.10000/ and despatched proceeds in form of cheque dt. august,2007 + tds certificate dt.31-03-2007(interpolation done in tds cert. by putting rubber stamp on printed date) in sept.2007,putting me at a loss as i had to file return of income on 31-7-2007.Please guide whether i can avail benefit / adjust tds amount in next year's return of income on receipt basis as i have still retained the postal envolope vide which said papers were sent to me and also clarify as to whether any action can be initiated for playing fraud on an investor and indulging in malpractise.Please give relevant provisions of applicable law for the above issues.Also advise whether the difference amount of principal and redeemed proceeds will be considered as interest leviable under "income from other sources" or as "capital gains" .
For expert comments please.

Nitesh

Nitesh (Expert)

28 September 2007 u must file revised return inwhich u can calim credit of tds and the difference will be treated as long term capital gain. file revised return.