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We had paid one month license fees as an advance to Air Port Authority of India . Advance license fees for Chennai & Kolkata came to Rs. 6,30,31,854 (Basic Rs. 5,71,45,833/- + ST 58,86,021/-). Advance license fees for Southern Region came to Rs. 3,68,40,752/- (Basic Rs. 3,34,00,500/- + ST 34,40,252/-). While making payment of one advance license fee, TDS has been deducted @ 2% under Section 194C in FY 2009-10.
One month advance license fees had been paid in FY 2010-11 for Chennai & Kolkata came to Rs. 6,30,31,854/- (Basic Rs. 5,71,45,833/- + ST 58,86,021/-). While making payment TDS has been deducted @2%. Balance Net payable amount i.e. 6,17,71,217/- had been paid to AAI. During audit of FY 2010-11, it came to know that TDS needs to be deducted @ 10% under Section 194I so balance amount of TDS for rest 8% has been deposited in September 2011 and TDS return has been revised in October 2011.
The detail may be summarized as follows
Old calculation
DATE BASIC AMOUNT STR TDS AMT Rate Net payable
23-Sep-09 5,71,45,833 58,86,021 12,60,637 2% 6,17,71,217
21-Dec-09 3,34,00,500 34,40,252 7,36,815 2% 3,61,03,937
01-Dec-10 5,71,45,833 58,86,021 12,60,637 2% 6,17,71,217
14,76,92,166 1,52,12,294 32,58,089
15,96,46,371
New Calculation
DATE BASIC AMOUNT STR TDS AMT Rate Net payable
23-Sep-09 5,71,45,833 58,86,021 12,60,637 2% 6,17,71,217
21-Dec-09 3,34,00,500 34,40,252 7,36,815 2% 3,61,03,937
01-Dec-10 5,71,45,833 58,86,021 57,14,583 10% 5,73,17,271
01-Dec-10 49,48,828 - 4,94,882 10% 44,53,946
15,26,40,994 1,52,12,294 82,06,917
15,96,46,371
Issue:
1- Form-16A has been submitted to AAI after revision of TDS return in Oct 2011. AAI has forbidden taking Tax credit as AAI has opinion that they have filed Tax Return in Sep 2011 so they cannot take Tax credit after Sep 2011. In this case, what is the measure available to AAI to take tax credit?
2- If AAI has forbidden taking Tax credit, then what is the measure available to Bhadra?
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Answer by: 
