ICICI

How I claim Tds of fy 2018-2019, return file is submitted


Vinod Bhatia (Trader )     02 December 2019

Vinod Bhatia
Trader  
 29 points

| My Other Post

My supplier had filed TDS fy 2018-2019 on 17th November 2019. His firm is audited & filed TDS with interest. I had submitted My file in August 2019. Now how I claim this TDS amount.

Shall I claim this amount in next fy 2019-20, or should I revise my return. As it is processed by CPC. Refund also came. Amount of payment got in 2019-2020 in July by supplier 

avater

CA Ankit R Momaya (Partner at Bhat Momaya & Associates)     02 December 2019

CA Ankit R Momaya
Partner at Bhat Momaya & Associates 
 145 likes  2242 points

View Profile | My Other Post

You can very well revise your Income and claim the Additional Amount of TDS.

No need to worry that ITR has been Processed.

avater

Kapadia Pravin   03 December 2019

Kapadia Pravin

 710 likes  11277 points

View Profile | My Other Post

Please check your 26AS statement to confirm such TDS is appearing there in AY 2019-2020 statement !!

Also what amount you had considered in your ITR as income. whether gross or net amount (after TDS) .

The income declared of this transaction should match with 26AS payment amount in so far TDS is concerned.


File revised return now also for AY 2019-2020.

avater

RAJA P M ("Do the Right Thing...!!!")     03 December 2019

RAJA P M
"Do the Right Thing...!!!" 
 7600 likes  103233 points

View Profile | My Other Post

Yes... I agreed to Mr CA Ankit R Momaya.

@ Vinod Bhatia.,

You can just Your ITR as per Mr Ankit view. Also You can claim refund of such tds.

debora M (BUSINESS DEVELOPMENT MANAGER)     03 December 2019

debora M
BUSINESS DEVELOPMENT MANAGER 
 15 likes  369 points

View Profile | My Other Post

Revise you income and claim refund for TDS

avater

Kapadia Pravin   03 December 2019

Kapadia Pravin

 710 likes  11277 points

View Profile | My Other Post

@ Vinod Bhatia

You did not claim TDS in your ITR , that's true but as per books how you have shown this .

It's not as simple as it looks to claim TDS.

Each TDS claim has to have corresponding income in ITR.

When you claim TDS by filing revised return , you have to write under which head corresponding income is declared. This, I think, nobody can deny.

eg. In case your bill amount is 50000/- and TDS is say 10% then net received by you is 45000/-
So the question is how much you have booked income --- is it 50000/- or 45000/-

If you have booked income 50000/- then it's okay but then where you booked 5000/- TDS entry.

If you booked income 45000/- then it's under booking of income

I advised you to check this while filing revised return. If any lapse then you can correct alongwith TDS claim.
Revise income (if required) alongwith asking TDS claim in Revised Return.

avater

RAJA P M ("Do the Right Thing...!!!")     03 December 2019

RAJA P M
"Do the Right Thing...!!!" 
 7600 likes  103233 points

View Profile | My Other Post

Yes... I agreed to Mr CA Ankit R Momaya.

@ Vinod Bhatia.,

You can just Your ITR as per Mr Ankit view. Also You can claim refund of such tds.

avater

Kapadia Pravin   03 December 2019

Kapadia Pravin

 710 likes  11277 points

View Profile | My Other Post

@ Ankit Momaya
Hi Dear
Sailing in the same boat

Our views on the impugned query are same but one more thing I mentioned that is of matching exercise of TDS with corresponding Income amount per 26AS vis-a-vis original ITR

Please peruse my earlier post and correct me if you hold any other view.

avater

RAJA P M ("Do the Right Thing...!!!")     03 December 2019

RAJA P M
"Do the Right Thing...!!!" 
 7600 likes  103233 points

View Profile | My Other Post

@ Hi Mr Vinod Bhatia.,

You can just Revuse Your ITR with updated 26AS and it's TDS as per Mr Ankit view. Also You can claim refund of such tds...

2 Like
avater

Kapadia Pravin   04 December 2019

Kapadia Pravin

 710 likes  11277 points

View Profile | My Other Post

@ Vinod
aap shri darek na jawab juo. pahelethi darek rite check karine revise return file karsho.

ul mathi sul ma padva jevu thay tem na karta

Tamara salahkar ni ( amdavad) madad Levi .
JSK


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Popular Discussion


view more »