Regarding tds

JAMANA DURGA PRASAD (Querist) 03 July 2015 This query is : Resolved
Hello sir/Madam,
I had done an audit of a bank in the month of april 2015 for FY 2014-15 and I raised the bill of Rs.283000 in may for which i received an amount by RTGS. Bank had deducted TDS and deposited on 31st march,2015.

My query is I had booked this Income for FY 2015-16. But TDS reflected in FY 2014-15.Can i claim TDS for FY 2015-16? what are the consequences?

-- J.Durga Prasad

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Anirudh (Expert) 03 July 2015
When you got the money through RTGS on 31.3.2015, how can you show it as your income in the Year 2015-16?

In any case, you have time to file your return. Why can't you work out your tax liability and remit the same with interest under self-assessment?

JAMANA DURGA PRASAD (Querist) 03 July 2015
I didn't received Income on 31st march 2015 I had received in June against my bill raised in the month of may 2015. But they deducted TDS and deposited on 31st march 2015

Anirudh (Expert) 03 July 2015
In that case, please see the income tax return form. In the last pages where you have to show the Total TDS Credit, TDS Credit being adjusted during the current AY and the balance TDS Credit which will be adjusted in the ensuing AY. This way, you will be able to adjust the TDS effected by the Bank in financial year 2004-15 (AY 2015-16) in your return for AY 2016-17.