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Urgent: carry forward of tds credit

ITR 2016 views 3 replies

CA abhishek Jain

Associate manager

106 Points Joined January 2014

Hi,

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

Replies (3)

Nishant Singla

Chartered Accountant in Practice

71 Points Joined April 2012

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

Hemanth Pullanikkat

Chartered Accountant

89 Points Joined July 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.

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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