We have contacted the account branch of ONGC ,. They are asking us to deposit an amount of Rs 19987/=.with them ,so that they can clean up their books , and tell the Income tax about the mistake
and asking us to claim the amount from Income Tax Authorities
Is that possible ?? To the best of our knowledge , we will get into complication?? Please advice
But there is no Purchase order or Contact of that magnitude with them .
We have contacted the account branch of ONGC ,. They are asking us to deposit an amount of Rs 19987/=.with them ,so that they can clean up their books , and tell the Income tax about the mistake
and asking us to claim the amount from Income Tax Authorities
Is that possible ?? To the best of our knowledge , we will get into complication?? Please advice
But there is no Purchase order or Contact of that magnitude with them .
26 June 2012
You should not refund the amount to ONGC, since you can not claim the TDS from the dept even if the amount is shown in 26AS since you are not going to show the corresponding income in the return. ONGC will revise the retun and claim the excess refund from dept.
CAclubindia
