Question ID :
Background of the case.
The deductor is deducting TDS after assessee filling his income tax return of (AY 2020-21) & the due date for filling belated return time is already over.
And the assessee has offered corresponding income in AY 2020-21 & not show any carry forward of TDS credit in his ITR-5
What are the ways to claim the TDS in subsequent years?
Answer ID :
RYALI VAMSI KRISHNA
Jul 23, 2021
Based on my understanding, there is no non-compliance from Law standpoint from both sides i.e deductor and deductee. This is more of a procedural issue. In order to permit the claiming of TDS Credit following is one of the process that may be followed (Personal Opinion)
> On deduction of TDS (pertaining to previous FY) in current FY, the same shall appear as tax credit in Current FY in Form 26AS.
> The said TDS credit may be adjusted with the Tax liability of Current FY.
> A letter may be submitted with the Jurisdictional Officer about the adjustment of the same.
MAHESH JHAWAR on
Jul 24, 2021