TDS credit follows the year of income assessability, not the deductor's later reporting, with duplicate claim safeguards.

TDS credit follows the year of income assessability, not the deductor's later reporting, with duplicate claim safeguards. https://www.taxtmi.com/highlights?id=98349 TDS credit must be allowed in the assessment year in which the related income is assessable, even if the deductor deposited tax and reflected it in Form 26AS in a later year. Following its earlier ruling, ITAT held that the assessee could not be denied credit for AY 2020-21 merely because of a timing mismatch in the deductor's reporting. The Assessing Officer was directed to grant the credit for that year, subject to verification that the same TDS credit is not claimed again in AY 2021-22. en-us Thu, 02 Apr 2026 08:50:44 +0530 Thu, 02 Apr 2026 08:50:46 +0530 TaxTMI RSS Generator TDS credit follows the year of income assessability, not the deductor's later reporting, with duplicate claim safeguards. https://www.taxtmi.com/highlights?id=98349 TDS credit must be allowed in the assessment year in which the related income is assessable, even if the deductor deposited tax and reflected it in Form 26AS in a later year. Following its earlier ruling, ITAT held that the assessee could not be denied credit for AY 2020-21 merely because of a timing mismatch in the deductor's reporting. The Assessing Officer was directed to grant the credit for that year, subject to verification that the same TDS credit is not claimed again in AY 2021-22. Highlights Income Tax Thu, 02 Apr 2026 08:50:44 +0530 https://www.taxtmi.com/highlights?id=98349