Claim of tds credit

If a person raised bill on comletion of service basis.

But his customer booked the expenses on provisional basis & deduct TDS on the same. And foem 26AS shows the amount of TDS.

First question, How will the first party claim amount of TDS deducted by the second party. Because first part has not booked the income.

Second question, Also suggest, if he has not claim the the amount of TDS which is deducted by the first party on provision basisin he preciding year, than how will he claim the amount of TDS in next year.

Replies (4)

Take refund/ adjust TDS against liability.

Mayank,

My point is that.....

Say Mr "X" has provided professional services to Mr "Z", during the month of march & april 2013 for Rs. 20000. But he raised the invoice for combined services after completion of services say in May. 2013

So, he booked his income for Rs. 20000 during FY 2013-14.

But Mr "Z", make provision for services received during the month of March on 31st March 2013 & claim the same as his expense (FY 2012-13) in March 2013. Say Rs. 10000 And deduct the TDS of Rs. 1000 on that amount & deposit the same to the departmen.

Now my question is how will Mr "X" claim that amount of TDS Rs 1000, against income of Rs. 10000 shown in FY 2013-14.

But AS show income of RS 10000 in FY 2012-13, but he booked in his book in FY 2013-14.

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Option 1: If he not claim in FY 2012-13, than how can he claim in FY 2013-14, because it doesn't reflect in 26AS of FY 2013-14.

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Option 2: If he calim in FY 2012-13, but he has no income against that TDS in FY 2012-13

While filing return of income electronically, an option comes in which you can mention in which year you want to claim TDS. So, you can claim it in next year, irrespective of TDS deposited in previous year.

In our firm also Bank deduct TDS in march month but we raise bill in april month, so we claim it in april month.

Another remedy you can avail is give a letter to TDS commisioner mentioning facts of the case.

Mayank,

Will u pls tell me in which heding or column this option is available

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