|QUERY:||Number of professionals including C.A., C.S., Architects, Interiors and Business man like brokers are maintaining books on cash basis (receipt basis) and claiming TDS in the year of receipt of income irrespective of the year to which it pertains. Before introduction of e-filing system, such claim of TDS was allowed in the year of receipt of income. This was settled practice. But after e-filing regime, where credit is given on the basis of 26AS, such professionals and brokers are not getting credit of such TDS due to mismatch of the year. On this account many rectification are also pending.
Kindly enlighten how to overcome this problem.
|ANSWER:||Click here to read the full answer of the expert|
|EXPERT:||CA. H. N. Motiwalla|
|CATCH WORDS:||demand notice, rectification, tax deducted at source|
As clarified by CBDT and prudent accounting practices, you should account TDS in the fees only. Any difference between actual TDS claimed by you and from AS 26 may be informed to the Assessing Officer for corrective action for issuing refund/