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Question ID : 41104


Dear Team, 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?

Posted by RYALI VAMSI KRISHNA on Jul 23, 2021

Filed Under TDS/TCS

Answer ID : 81206

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.

Posted by MAHESH JHAWAR on Jul 24, 2021