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Urgent: carry forward of tds credit

ITR Filing 2029 views 3 replies
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Associate manager
106 Points Posted on 16 December 2014

Hi,

 

Can anyone tell me whether one can carry forward TDS credit in case of losses?

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On 16 December 2014 at 11:40 Report
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Chartered Accountant in Practice
71 Points Posted on 16 December 2014
Dear Abhishek In this case you have to claim refund of tds deducted by filing income TaX return. You can not carry fwd your tds credit relates to one fy to next fy
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On 16 December 2014 at 19:59
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Chartered Accountant
89 Points Posted on 16 December 2014
You cant carry forward TDS credit from one A.Y to next A.Y.In case of losses you have to file IT return and take refund of the tds amount. But you can carry forward losses of the current year to next year if provided.
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On 16 December 2014 at 23:29
Guest

TDS credit can be carried forward, if it has been deducted by the parties on 'Advances'.

TDS can be claimed only if only if corresponding income is being offered for tax in the year.

It is important that IT return is filed and amounts are filled properly in Schedule TDS2.

 

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On 17 December 2014 at 11:16


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