Dear members,
Please let me know your valuable opinion or point of view in following case:
Facts of the case are:
1. A professional keeps his books of accounts on Cash Basis of Accounting
2. During the year he has received the TDS certificate of 50,000/- but not
professional income nor service tax thereon
3. That professional assessee has considered that TDS of Rs. 50,000/- as
his income and has paid tax on that
4. Professional income and service tax thereon was received in subsequent
years and that was considered as taxable income in that year.
5. In the process of scrutiny assessing officer's of the opinion that TDS
of which fee has not been received is neither subject to tax during the
currency period of TDS's assessment year and nor TDS is available for TAX.
6. The benefit of said TDS would be available only on receipt of income.
Please opine if the assessing officer is right in his opinion.
If so will the what precautions should be taken while filing such returns.
And also how to claim the benefit of TDS of previous year in next assessment
year.
Thanks & Regards
CA Peeyush Aggarwal
B. Com, FCA, CA-ISA
B 132 Anand Vihar
Delhi - 110 092
Tel: +91 11 22164700
+91 11 22164800
Mobile: +91 9312432201
+91 9911662000
Email: [email protected]
Website: www.Indialiaison.Com
Skype: peeyush1965
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