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Revised tds return-26q

Rudrayani Shedjale (Assistant Accountant) (751 Points)

24 May 2017

Hello

if we are doing revised return of non salary -26Q of previous years i.e.f.y.2014-15, 2015-16, in which we are making changes in pan number of deductee & if the particular deductee has already filed his income tax return for that period, can he get the credit of that tds amount now??

please advise.

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8 Replies

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 24 May 2017

FY 2014-15:-

26q revised return possible.

But revised IT return is not possible of that deductee's case because last date to file revised return U/s 139(5) has already gone.

FY 2015-16:-

26q revised return possible.

Revised IT return is possible of that deductee's case if that deductee has already filed the IT return U/s 139(1) i.e. on or before due date.

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 24 May 2017

can he take credit of the amount of tds(2014-15) in this f.y.?

PRABIR PAUL (*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.) (1443 Points)
Replied 24 May 2017

We can't give answer properly untill you inform the incident.

First of all tell me what happened.

Rudrayani Shedjale (Assistant Accountant) (751 Points)
Replied 25 May 2017

while filing tds return of f.y.2014-15, invalid pan numbers have been mentioned of particular deductee. so we have received notice from Tracess regarding this to deduct tds 20% due to invalid pan number. to avoid this we need to revise that return mentioning correct pan number. so my question is if we do it in this f.y.can that deductee get the benefit of tds amount in this f.y while filing his income tax returns?