TDS credit facilitation lets taxpayers apply to amend prior assessments to claim later-deducted TDS as credit. A provision enables an assessee who reported income in an earlier return to apply to the Assessing Officer within two years from the end of the financial ... Summary
TDS credit facilitation lets taxpayers apply to amend prior assessments to claim later-deducted TDS as credit.
A provision enables an assessee who reported income in an earlier return to apply to the Assessing Officer within two years from the end of the financial year in which TDS was later deducted, for amendment of the earlier assessment or intimation to allow credit of that TDS in the relevant assessment year; rectification rules apply so far as practicable with the limitation period reckoned from the end of the financial year when TDS was deducted, and the same TDS cannot be credited in any other year.
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