Answer

1. F

   Facts

   If the deductor reported TDS in the wrong quarter or financial year, credit appears in the wrong year. The deductor can correct deductee details through a correction statement for the right period.

2. P

   Provisions and law

   • Sec 199, Income-tax Act 1961Credit for tax deducted is given to the person whose PAN is reported, for the year in which the income is assessable (2025 Act number to be confirmed).
   • Rule 37BA, Income-tax Rules 1962 (now Rule 203, Income-tax Rules 2026)TDS credit is given on the basis of the deductor's statement; it can be claimed by another person whose income it is, on declaration, and in the year the income is taxed.
   • Sec 200(3), Income-tax Act 1961 (now Sec 397(3)(b))The deductor files quarterly TDS statements and can file correction statements to fix errors.
3. A

   Analysis

   For salary TDS deducted in March 2026, the credit belongs to FY 2025-26. If it shows in FY 2026-27, your AY 2026-27 return will show short credit. Ask the employer to correct the period. Where income is genuinely taxed in a different year than deduction, the rules let you claim credit in the year the income is taxed.

4. C

   Conclusion

   1. 1Check both years' 26AS for the entry.
   2. 2Confirm with the employer which period was reported.
   3. 3Ask for correction to the right quarter and year.
   4. 4Recheck 26AS for both years.
   5. 5Rectify the return once corrected.

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