TDS certificate

TDS 487 views 1 replies

Vipul Rastogi

Article

24 Points Joined December 2009

we are maintaining books of accounts on cash basis and have received interest from FDR (Issued in F.Y 2007-08) which is matured in the Financial Year 2008-09. Bank had deducted TDS in the year 2007-08 and also in 2008-09.

The whole interest income is been booked in the F.Y 2008-09.

How can we claim the TDS deducted by Bank in F.Y2007-08 ?

Replies (1)

Anumanchipalli Sathikonda

Tax Consultant

1559 Points Joined June 2009

Mr.Vipul Rastogi

You can claim credit for the entire TDS amount in the year in which you have offered the income to tax as per method of accounting regularly and consistently followed by you.

Best Wishes

Sathikonda