Answers On Topic: TDS credit
In a case where the TDS credit is reflected in Form 26AS but the corresponding TDS amount has not been accounted for in the books of accounts in the current year and is instead accounted for in the next year, let's understand this with an example: The TDS credit is claimed in FY 2020-21 while filing the income tax return, and the same credit is reflected in Form 26AS for FY 2020-21. However, the TDS is recorded in the books only in FY 2021-22. The question is: In which year is it legally and logically correct to claim the TDS…
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Sir, A Doctor (landlord) has rented out their hospital premises to another doctor (tenant), who provides healthcare services there. The tenant doctor earned ₹40 lakhs from a healthcare trust for medical services rendered, but the payment was mistakenly credited to the landlord doctor’s bank account. TDS under Section 194J was deducted, and this amount is now showing in the landlord doctor’s AIS (Annual Information Statement), linked to their PAN. The healthcare trust has stated that it cannot change the PAN or reissue the TDS certificate. For income tax compliance, how should the ₹40 lakhs be correctly transferred from the landlord…
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Sir, A doctor (landlord) running a private hospital rent to another doctor (tenant) but tenant (doctor) service provide to patient treatment after fees amount rs:10 lacs from healthcare Care trust (sec 194jb ) amount credited by landlord (doctor) bank account and fees amount and tds deducted ais show in landlord (doctor) pan login in income tax portal Health care pan number change not accepted Question: Fees amount transfer procedure landlord to tenant for it purpose
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Assessee is promoter and builder and offering the income from business and profession by following percentage completion method , However while filling the Return of Income for A. Y. 2023-24 has claimed the entire TDS made by the flat purchasers against the income offered. CPC U/SEc. 143(1)(a) has disallowed such claim and allowed the proportionate TDS as per the Income offered in the return and raised the demand by adding interest U/SEc. 234B of the Act 1. Whether this action of the CPC is justified under the Act and 2. any other remedy which assessee can exercise in support of…
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As per section 199 read with sub-rule (3) of rule 37BA, credit for tax deducted at source and paid is given for the assessment year for which such income is assessable. Accordingly, TDS needs to be claimed in the ITR based on income offered to tax in a financial year irrespective of the fact credit is appearing in future years in Form 26AS. The query is how TDS credit will be given if the same is not appearing in 26AS, for example the income was offered in FY 22-23 but the TDS credit is appearing in 26AS for FY 23-24. …
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Income tax about TDS credit