{"id":22422,"date":"2021-10-29T15:13:33","date_gmt":"2021-10-29T09:43:33","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=22422"},"modified":"2021-10-30T12:14:18","modified_gmt":"2021-10-30T06:44:18","slug":"ids-2016-and-credit-of-advance-tax","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/ids-2016-and-credit-of-advance-tax\/","title":{"rendered":"IDS- 2016 and Credit of Advance tax"},"content":{"rendered":"<p>Assessee firm has filed a declaration under IDS where in they have disclosed for\u00a0AY 2015-16: Rs. 9,82,24,010\/- as Business Income and For AY 2016-17: Rs. 1,15,04,953\/- as Business Income. In the said declaration the assessee firm claimed the credit for the Advance Tax and TDS for both the assessment year.<\/p>\n<p>However CIT has denied the credit for the said payment on the ground that it is not permissible to give credit of advance tax in IDS.<\/p>\n<p>On the basis of this information the AO issued Notice U\/Sec.148\u00a0 for A.Y. 2017-18, on the ground of Invalid declaration due to non payment of taxes as CIT has not considered the amount paid by the assessee towards advance tax .<\/p>\n<p>whether assessee can file writ petition against the denial of credit of advance tax under IDS declaration?<\/p>\n<p>whether the AO is correct in issuing notice U\/SEc.148 for A.Y. 2017-18 when the income declared under IDS is business income for A.Y. 2015-16 and 2016-17?<\/p>\n<p>please guide<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[410,409,211],"class_list":["post-22422","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-credit-for-advance-tax","qa_tag-ids","qa_tag-tax-deduction-at-source"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/22422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=22422"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=22422"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=22422"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=22422"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=22422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}