05 May 2009
You can ignore and take no action.But I have not done practical of this yet.So my suggestion to you go far Etds return with section 192B and issue certificate (form 16A) to deductee as there is no remedial action suggested by the department.If any problem arises at later stage then you can explain it as there is no malafide intention.The main problem in this action is as per new Income tax rules that Due tax credit to the deductee can be denied if etds return does not matched with the Bank data. Further deposit in incorrect section ,if this error is added in the error List at later stage ,power to correct the same will be given to Assessing officer.
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