Timing of tax deduction credit: credit is allowed in the assessee's assessment year corresponding to the relevant previous year-end. The instruction states that credit for tax deducted at source must be given in the assessee's assessment year that immediately follows the assessee's relevant previous year-end. Because TDS is deemed income for computing the assessee's total income, the assessment year for credit is determined with reference to the relevant previous year of the assessee, not merely the financial year in which deduction occurred.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Timing of tax deduction credit: credit is allowed in the assessee's assessment year corresponding to the relevant previous year-end.
The instruction states that credit for tax deducted at source must be given in the assessee's assessment year that immediately follows the assessee's relevant previous year-end. Because TDS is deemed income for computing the assessee's total income, the assessment year for credit is determined with reference to the relevant previous year of the assessee, not merely the financial year in which deduction occurred.
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