One of friend failed to file his ITR for FY 2023-24. He has a TDS deducted in his income. He is an insurance agent.
1. Can he claim this TDS amount in FY 2024-25?
2. Is he liable to pay additional tax as per updated return?
One of friend failed to file his ITR for FY 2023-24. He has a TDS deducted in his income. He is an insurance agent.
1. Can he claim this TDS amount in FY 2024-25?
2. Is he liable to pay additional tax as per updated return?
TDS should be claimed in the same year as receipt. I am not sure whether revised return can be filed now. Experts here will tell.
@ Rajasekar , @ Shirish
The TDS section in ITR forms permit choosing the year of TDS deduction and year of TDS claim in separate columns.
So it may be possible to get the claim of past year's TDS.
Gupta Sachdeva & Co. Chartered Accountants
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