In the last quarter of Form 24Q, if the details of salary of one employee is wrong for ex- tds deducted figure is wrong and differs from form16 issued to him and the return is submitted, wht is the impact of this error?
Sweta Jalan (Company Secretary) (177 Points)
10 June 2009In the last quarter of Form 24Q, if the details of salary of one employee is wrong for ex- tds deducted figure is wrong and differs from form16 issued to him and the return is submitted, wht is the impact of this error?
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 10 June 2009
Sweta
Main impact is , that particular employee can't get the credit of TDS as deducted by u when he is filing his personal return .
And as of now govt has also introduce the concept of UTN no. which will match the TDS deducted & TDS credit claimed and this concept is also aaplicable for the last F.Y. i.e. 2008-2009.
it may be that this fault can be hide but if it doesn't then may be you will face the penalty as you are liable to deduct TDS & you didn't that..........
So contact to NSDL , they will definitely give you solution.........
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