TDS Query

If TDS certificates are recieved for the higher amount  on provisional basis for which bills are to be raised from the assessee in a continuous process in a financial year and in the same way TDS certificates are recieved for the lower amount in the next financial year, then wheather benefit of TDS certificates recieved in earlier year would be available in the next financial year in which certificates are recieved for the lower amount.

Pls specify treatment for both cases when

1)  Assessment for the earlier year completed.

2) Assessment for the earlier year not completed.

Replies (3)

 

When you will get tds certificate of higher amount than u can claim of refund only in that year. And same when you will get lower amount tds certificate than you have calculate your tax liability according to it. hence you can’t take benefit of higher amount tds certificate in next year when tds will lower deduct.

TDS certificates are yearly basis and can be claimed / adjusted during the year against tax liability. it can not be carried forward  for forthcoming years, if excess then one can claim refund. 

Friend i dont know more in that topic, bcoz i am nw in IPCC, no pratical knowledge thats why i cant able to reply

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