CASE :
Mr. X is an engineer providing technical service, who raised bill in the name of XYZ Ltd of rs.10 lakh in the year 2018-19. Hence XYZ Ltd recorded same in 2018-19 and deducted rs.100000 as TDS u/s 194J and filled TDS return on time BUT XYZ Ltd paid remaining rs. 9 lakh to Mr.X in the year 2019-20.
ISSUE :
Mr.X following cash based accounting and he has not any other income apart from this one in 2018-19. so his GTI rs.0 BUT 26AS showing rs.1lakh as tax credit.
Queries :
1.can he file nil return for the year 2018-19 and claim TDS refund?
2.if he do so then is there any chances of demand notice?
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TDS & cash based accounting
Replies (2)
1.He can file nil return but TDS won't be able to claim as there is no corresponding income declared.
So in TDS schedule and fill the last column that TDS to be carried forward to next AY.
2. if you follow 1 above then there is no demand
3 But please check the amount of TDS in your 26AS
So in TDS schedule and fill the last column that TDS to be carried forward to next AY.
2. if you follow 1 above then there is no demand
3 But please check the amount of TDS in your 26AS
thank you sir
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