Please can I request your inputs on the below scenario.
Co. A has paid all the invoices of Supplier X without deducting any TDS. They identify their mistake and quickly calculate the amount of TDS and deposit the same with the Taxman against the Suppliers name. Meanwhile the Supplier unaware of this process files his IT Returns and pays taxes on the income received.
Question is can Co. A now claim for the TDS deducted and deposited with Taxman?
Is there any time limit for Co A to submit their application for recover of TDS? Or is it to be written off by A?
CAclubindia
