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Income tax and TDS Deduction in different years

Priyanka Daga (CA Final) (47 Points)

30 May 2022

An assessee had included Rs.50000 as income in F.Y.2019-20 but the TDS against the same had been taken into account in F.Y.2020-21. He has claimed TDS deduction for the same in ITR in F.Y. 2020-21. But the same has been disallowed by the department. The department has demanded for the same amount of tax. Is there any way to deal with the same?

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20 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 30 May 2022

Income Tax dept allow tds based on 26AS .

So better to consider as per 26AS of you are a non tax audit assessee

1 Like

Saurabh Anokhchand Jain (Chartered Accountant) (1043 Points)
Replied 30 May 2022

Please confirm, whether the assess have carried forward the TDS while filing the Tax Return of 2019-20?.

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 30 May 2022

You can claim so

1 Like

rama krishnan (12234 Points)
Replied 31 May 2022

Carry forward of TDS is allowed only when you follow cash system accounting. in my view, you file rectification application for both f. y 2019-20 & f. y. 2020-21 in order to regularise the same. when you claim credit for any prepaid taxes, then its corresponding income required to be offered to tax. on the aforesaid grounds, the dept might have denied to give credit for the tds of 50000

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 31 May 2022

Pay demand and claim refund in the subsequent year

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 31 May 2022

@ Eshwar Reddy Please explain how demand will be paid and how you can claim it in subsequent year, another useless reply by you. Don't reply without knowledge on each post .

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 31 May 2022

If you claim tds which is not appearing in 26AS

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 31 May 2022

If you claim tds which is not appearing in 26AS, What will happen? Don't you get demand notice.

One must have brain to understand this.

You are just making personal comments.

If this continues then I will repeat the same to you.

This is not your own website. You can post your opinion and leave it

1 Like

sabyasachi mukherjee (25965 Points)
Replied 31 May 2022

Credit of bills accrued and payment whichever is earlier. But it may so happen there are some lapses on the part of deducted.

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 31 May 2022

@ Eshwar Reddy, we have brain but it is completely illogical to pay tax and then claim refund for that, what is use of doing so. Its not my site but you are continuously posting multilple replies on each query and all that have no relevance. I just want than reply the correct thing and only if you know about it. People like you make fun of such a good platform.