TDS for current financial year deducted in next financial year

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  1. Dinesh Reddy

    Dinesh Reddy New Member

    Hi,
    My employer had deducted TDS for AY 2016-17 in March, 2016, but due to some technical difficulties, TDS amount got deducted in April, 2016. Now I am unable to see tax credit in form 26AS in neither of the assessment years i.e 2016-17 and 2017-18. Do I need to pay tax again for AY 2016-17? What must be done ?
     
  2. ZED

    ZED Well-Known Member

    When TDS return would be filed by your employer then it will be mentioned that for which period does this TDS return pertains to.
    It's strange that there is no tax credit till date, kindly discuss with your employer.


    Does the form 16 showing the TDS amount?
    As per S.191
    In the case of income in respect of which provision is not made under this Chapter for deducting income-tax at the time of payment, and in any case where income-tax has not been deducted in accordance with the provisions of this Chapter, income-tax shall be payable by the assessee direct.


    I would recommend that you pay full tax now and when your employer files the TDS return then claim credit of TDS by filing a revised return.
     
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