Tds dedudcted and deposited but certificate not issued

TDS / TCS 869 views 2 replies

MANOJ JHAWAR

CEO

24 Points Posted on 07 June 2012

My brother runs a retail showroom on rented premises. During previous year 2010-11 because of some dispute he did not pay rent to the landlord. but since he was booking the rent expense regularly so he deducted the TDS and deposited the same in Govt account and filed all the returns on time. But he did not issue the TDS certificate to the landlord. Now the issue is resolved but the landlord is asking for the full amount of rent as he did not recieve TDS certificate on time and he could not claim any deduction for the same while filing his return last year. What should my brother do? Does he have to deduct TDS again and deposit the same. If yes then how does he recovers the previously deposited TDS amount in the govt. account. Or can he issue certificate now based on teh previously deducted and deposited TDS?

Replies (2)

Vishwas V Rao

Chartered Accountant

239 Points Posted on 08 June 2012

Since your brother has deducted and paid the TDS amount, no need to do so again. Just issue form 16A now and ask his landlord to file a revised return and claim the TDS deducted. Since it was deducted for PY 10-11 (i.e AY 11-12), he has time till 31.03.2013 to file a revised return.

Prateek Agarwal

Sr. Executive - Finance & Accounts

1732 Points Posted on 08 June 2012

No need to deduct tax again. The landlord can still claim the deduction because it will already reflect in his Form 26AS which is now the base for claiming deduction agst TDS or other credits.

The landlord should have mentioned the amount of TDS in the original return, though there was a dispute, he can still file a revised return with the help of Form 16A issued by your brother.