TDS has been deducted on Advance. However, the work for that advance is being postponed to the subsequent financial year.
Whether the I T Department can hold the TDS till such work is billed, should it refund it (giving cr in the year of payment)
Menu
TDS Refund
Replies (2)
The TDS is claimed in the year of Income recognised and offered for tax and as such the TDS can be deferred to next financial year in which the work is billed. ( section 199 of the IT ACT)
| Originally posted by :RAMANJU | ||
| " | The TDS is claimed in the year of Income recognised and offered for tax and as such the TDS can be deferred to next financial year in which the work is billed. ( section 199 of the IT ACT) |
" |
Thanks for the information but One question is there any provision for interest as this amount of refund had been pending with IT dept from 6-8 months (apx), Is the refund will payable along with Interest if yes then what is rate of Interest.??
Thanks
Rajesh
Recent Topics :
- Can I pursue articleship alongside a regular full-
- Investment fund's income from ncd distribution to
- Comparative BS PL with Audit report
- Source of funds in IT returns
- Work from home job
- TDS ON ANY PURCHASE OF ANY GOODS - 393(1)
- TDS on payment to a non resident
- NSFA(National Food Security Act) commission
- RCM applicability on petty GTA freight (₹450
- Short payment reccieved in export & GST implic
Related Topics :
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
