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timming difference of income accrued and deduction tax at source by payer, Income Tax

Issue Id: - 116823
Dated: 31-10-2020
By:- Rakesh Bansal
timming difference of income accrued and deduction tax at source by payer

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Sir,

One of my client received some income on which the payer has not deducted any tax in the year of payment. My client filed his ITR declaring the income and no claim for TDS was made. In the succeeding year, the payer booked the payment made last year as current expenses and deducted tax at source. Now there is timing difference between the income accrued and the year of deduction i.e. income vis a vis form 26AS. My query is how to treat the income in succeeding year to tally it with 26AS when the income has already been considered on mercantile basis in preceding year?

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1 Dated: 2-11-2020
By:- Shilpi Jain

GST would be liable as per the provisions of time of supply. If that is complied with then any other reason for differences with books can be given as a reconciling difference in Form GSTR-9C. Further comparison with 26AS is not required for Form GSTR-9C.


2 Dated: 6-11-2020
By:- Rakesh Bansal

Thanks for the reply. however my question pertained to Income Tax and not GST.Regards


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