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TDS credit for previous year

11 August 2020

If the assessee has not deducted TDS on purchase of immovable property for A.Y 2019-20 and is liable to deduct tax, can he claim TDS credit for A.Y 2019-20 if TDS is deposited on August 2020

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3 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 11 August 2020

If TDS is deposited on August, 2020 with interest for A.Y 2019-20,(i.e Deposited late by purchaser, but Filed / reflected in A.Y 2019-20) than seller can claim TDS in A.Y 19-20.

Check 26AS of seller,in which year it's reflecting ?

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sunaina behera (8 Points)
Replied 11 August 2020

if the seller has not claimed TDS is it possible to revise the return to claim the credit?

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 11 August 2020

Yes, For A.Y 2019-20 seller can revise his/her return up to 30th September, 2020.

Note: Before filiing revised return check that TDS Credit is duly reflecting in 26AS of seller in A.Y 2019-20.

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