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of <h1>Taxpayers to Get Proportional TDS Credit for Advance Rent u/s 199, Even with Terminated Agreements.</h1> The circular addresses issues faced by taxpayers in receiving credit for tax deducted at source (TDS) under section 199 of the Income-tax Act, 1961, particularly concerning advance rent taxed under section 194-I. Problems arise when advance rent covers multiple financial years or when rental agreements are terminated or properties transferred, leading to refunds. Taxpayers struggle to obtain credit for TDS because the income does not accrue in a single year, and certificates are not issued for subsequent years. The Board has decided that credit for TDS will be proportionally allocated across relevant assessment years or given in full when agreements are terminated or properties transferred.
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