TaxTMI 
TaxTMI 
I got a gift cheque from my agency business and tds was also deducted.But till now cheque is not recieved. what will be the tax implications if i receive the cheque and deposit it in April. For which AY it will be taxed.
Tax implication
Guest
Gift Cheque Tax Implications: TDS Credit Available in Year of Income Taxation. Which Assessment Year Applies? A user inquired about the tax implications of receiving and depositing a gift cheque from their agency business, with TDS already deducted, in April. They questioned which assessment year (AY) it would be taxed under. The response indicated that the credit for TDS is typically available in the year when the related income is offered for taxation. (AI Summary)