authenticity of investment proof
This query is : Resolved
23 March 2010
Hi! All
Is employer responsible to check the authenticity of the investment proof submitted by the employee?
can anyone help me with the relevant case laws?
Warm Regards - Manju
Is employer responsible to check the authenticity of the investment proof submitted by the employee?
can anyone help me with the relevant case laws?
Warm Regards - Manju
23 March 2010
This is vicarious responsibility,as the receipient of the investment u will be required to submit a list of investors with their sources to the Income Tax /banks/FIIs etc As per the current practice it is advisable to obtain the PAN of the investors and the correct postal addrtess of the investors. Your/employeer's responsibility ceases if u submit this data.
23 March 2010
It is the employers duty to check the authenticity of the data submitted by the employee. The declarations should be backed by photocopies of the investments made. If possible, the company should get the same audited internally.
23 March 2010
It is not the responsibility of the employer to scrutinise the data provided by the employee. It should be authentic prima facie.
23 March 2010
i thing collect xerox copy and declaration is sufficient
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