Question And Answer
Subject: TDS on dividend income on shares transferred to wife
Querist: Arvind Khaladkar
Answered by:
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Date: February 17, 2023
Query asked by Arvind Khaladkar

I have transferred some shares to my wife. The income from dividends is offered by me u/s 64 for taxation. However I do not get the benefit of TDS made on those dividends. What steps I am required to take to claim the TDS in my return which is shown in her Form 26AS.

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Answer given by

In CIT v. Gopal Das Estates & Housing (P) Ltd. (2019) 308 CTR 201 (Delhi)(HC) , property was sold, rent passed on the respective owner-on such passing TDS also deducted by assessee. Held, credit of TDS deducted by original tenant can be claimed by the assessee. In CIT v. Ganesh Narayan Brijlal Ltd. (2017) 244 Taxman 14 /147 DTR 136 /292 CTR 518 (Cal.) (HC) since other co-owners had not availed any tax credit out of TDS on rental income, assessee-company would be entitled to enjoy benefit of tax deducted at source in its entirety. ITO v. Amee Hosang Mistry (2014) 29 ITR 397 /149 ITD 503 (Mum.)(Trib.) ,Credit for TDS given to person in whose hands income is assessable . Accordingly as per section 199 of the Act , credit should be given to the Husband income on which the tax was deducted and the said income was offered as income in the assessment of the husband .

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