Form 16 mistake by employer

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2013 My Form 16 has interest on Housing loan deducted from my salary income , but in reality I don't have any Interest on housing loan ..... as Company has considered interest loss TDS has deducted based on that.... what if I go according to Form 16 ..... ? IF I don't consider this interest on housing loan I need to pay tax along with interest penalty u/s 234B & C

Please advice?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 August 2013 Since form 16 is wrong,you need to declare the correct position in your income tax return, so you may be pay interest u/s.234B &C. because you are failed to correct when your employer considered the housing interest wrongly