I lend 100,000 to a client on which I earned an Interest of Rs.12000 for FY.2013-14
He did not deduct TDS,his CA adiviced Him to pay TDS in order to Claim interest as an expense.
Later he paid TDS amount, which was reflected in 26 AS & I reimbursed the TDS amount paid by Him.
Now when I m viewing my 26 AS the TDS paid by him is not reflecting its showing as -1200.
What is remedy available.
TDS deduction on interest is 10%. So if interest paid is Rs. 12,000/-, and he has deposited Rs. 1,200/-, then it is correct. Your 26AS is showing correct status. Take TDS certifcate form 16A from him.
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