Credit for TDS will be given in the Assessment Year for which such income is assessable, clarifies ITAT

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Last updated: 22 July 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) has clarified that credit for Tax Deducted at Source (TDS) should be given in the Assessment Year for which the income is assessable. This ruling came about in a case where an assessee received TDS certificates after the deadline for filing returns. The ITAT's decision ensures that taxpayers receive credit for TDS in the correct financial period.

Court :
ITAT Bangalore

Brief :
This is an appeal by the Revenue against the order dated 30.01.2013 of CIT(Appeals)-III, Bengaluru, relating to Assessment Year 2007-08.

Citation :
ITA No.547/Bang/2013

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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