Can i use ITR1 to claim 194n tds
why ITR2 and 3 is necessary to choose to claim tds 194n as per rule 12
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Tds claim of 194n
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Quick Summary
You can claim
However, to claim credit for the taxes deducted under Section 194N, assessees must file their income tax returns in Forms ITR 2 or 3 only. The assessee can not claim credit of TDS under section 194N in ITR 1.
You need for file ITR 2 or ITR 3 for TDS claim
Use ITR-2 or ITR-3, not ITR-1, to claim 194N TDS:
• 194N TDS (on cash withdrawals) is tax deducted on behalf of the person withdrawing. It isn't linked to any income. Rule 37BA(3)(ii) gives credit of 194N TDS in the year of deduction.
• ITR-1 eligibility: ITR-1 can't be used if TDS has been deducted under Sec 194N (CBDT excluded it from ITR-1/4 eligibility, since 194N credit needs a separate field). Hence the portal pushes ITR-2/3.
• Use ITR-2 (if no business income) or ITR-3 (with business income) to claim it.
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