My client is a Professional and follows cash basis accounting all the years.
For professional services rendered he gets payment minus TDS.
In the F/y 2010-11 he received such payments and accounted aaccordingly and took credit for TDS deducted by payers.
But, now he finds that the payers have accounted it as on 31-03-2010 and remitted TDS for that year. In 23AS also it is appearing for F/y 2009-10 (Asst yr: 2010-11). The client did not claim / nor taken credit of these TDS for that year, as the income received (Actual cash receipt) during F/y 2010-11 and accounted it in the Current year.
Query is:
CAN HE TAKE TDS CREDIT FOR THE CURRENT ASST YEAR: 2011-12 by giving the relevant details in the ITR. BUT 26AS statement does not show it for the current year. What should be done in such case. PL ADVICE.
chenchumohan. a. hyderabad
CAclubindia
