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Tds of last year paid this year

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manoharr

CEO

24 Points Posted on 20 September 2013

Dear Sirs,

2011-12 FY, TDS payable with interest deposited in the month of Sep 2012 through online banking mode... and was allocated(e-filed?) by CA in Apr 2013, party says it is not accepted as already for that year returns are filed, so whether that money is gone waste or can be claimed refund by any one of, both the parties. if it is possible then how and to whom to approach / any forms to apply

pls adv in simple words can be understood by non accountant.

Thank you

manoharr

Replies (1)

CA LOVELY ARORA

C.A. B.Com (H) Graduate

2151 Points Posted on 20 September 2013

Dear Sir,

if the same couldn't be claimed by you in ITR, you need to revise such ITR and you will get claim (i.e. the deductee will get claim).

Sir, it has number of issues, 1st one is that TDS of F.Y. 11-12 which was deposited late, would be allowed as deduction in the year in which the same was deposited (assuming the case is of COMPANY and last date is 30.09.12), then the same would be allowed as deduction in F.Y. 11-12.

and the other party, whose TDS has been deducted would be allowed claim for such deduction, if he claims that TDS in his return, if didn't claim, then revise such return and keep the proof (e.g. TDS certificates, bank statements etc.) to prove that TDS has been deducted.

Best Regards,
CA Lovely Arora
Lovely Arora and Associates
ca.lovelyarora @ gmail.com