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Tds

TDS 632 views 6 replies

I have received commission in march 2014.In which financial year can i take credit for the TDS on such commission.Also when should the person paying me such commission deposit the TDS on such commission with the government.

Replies (6)

credit is availed in f.y. 13-14 n he can deposit suc h tax up to 30/04/14 

Agree with Mayank

Dear khushbu,

In your case, you can take credit for the FY 2013-14.

Your employer must have deposited it upto 30.04.2014

In the above case if i receive the actual payment for the commission in sept14 and also TDS is deposited by the deductor in may14.But the commission pertains to 2013-14.can i still claim the TDS credit for fy 13-14.

You can avail tds only for the financial year in which it has been accrued , whether it has paid by deductor or not

Even if the person has not paid the TDS Amount to Government, you should take the credit of your TDS because that person is liable to deposit the TDS in government account without any delay and if he donot make the payment than he will be penalise.

You should claim your TDS and if government says that they have not received TDS amount from that person than that is not your lookout but Govt's to trace him and ask to deposit the TDS Amount so that you can get the credit.

By doing so, you are making the TDS Dept aware that who are people not paying TDS and we are suffering because of them.

 

In your case, you must claim the TDS on commission.


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