TDS credit - Rule 37BA of the Rules - When to claim credit - the ...

Rule 37BA: Claim TDS Credit in the Year Income is Assessed, Ensuring Alignment with Related Income Assessment.

November 29, 2011

Case Laws Income Tax AT

TDS credit - Rule 37BA of the Rules - When to claim credit - the year of allowance of credit for TDS stands addressed by the clear language of the provisions itself- allow credit for TDS against the corresponding income on its assessment, so that even the absence of section 199 would yield the said course.... - AT

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TDS credit - Rule 37BA of the Rules - When to claim credit - the ...

Rule 37BA: Claim TDS Credit in the Year Income is Assessed, Ensuring Alignment with Related Income Assessment.

November 29, 2011

Case Laws Income Tax AT

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The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

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Denial of TDS credit - Credit deferred to next year - To rest the adjudication, it suffice to voice that, the combined reading of Section 199(3) r.w. Rule 37BA(3) makes...

Denial of TDS credit - TDS is not reflected in Form No. 26AS of the assessee - Credit of TDS which was not deductible - We find from updated Form 26AS of the assessee,...

TDS credit - there was no reflection of TDS amount in Form No. 26AS - It is, ergo, abundantly clear from the mandate of Rule 37BA (3) (i) that the benefit of TDS is to...

Allowance of Tax Deducted at Source (TDS) claimed by a "Kaccha Aaratiya" (commission agent) engaged in selling agricultural produce on behalf of farmers. The key points...

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This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

HC upheld denial of TDS credit to appellant who filed NIL return while claiming TDS benefits. The income corresponding to claimed TDS was reported by ISPL, not the...

TDS Credit u/s 199 - grievances of the assessee is that the entire TDS amount was not duly given credit by the CPC Centre - cash basis of system of accounting followed...

Claiming TDS credit whereas interest income was not recognized following cash basis of accounting - TDS amount deserves to be treated as income - but tds credit cannot...

TDS credit - AO did not allow the TDS credit on the ground that the corresponding income of this TDS has not been offered to tax by the assessee as it was not received...

TDS Credit - claim on the deferred Revenue - Rule 37BA(3)(ii) provides that where tax has been deducted at source and paid to Central Government and income is...

Credit of TDS - consideration received for offshore supply of rolling stock, when no corresponding income has been offered for taxation by the assessee - The ITAT cited...

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