A employee has opted 115BAC with his employer hence the employer has deducted tax in accordance to that without reporting any deductions. But the employee has filed in old tax regime with 80C, 80D, standard deduction to salary. Now the department has raised a notice saying that the employee has claimed more deductions than what is reported in Form 16 by the employer and to correct the same to maintain consistency.
1. Is there any circular or rule saying that the ITR filed is to be in accordance with Form 16 reported by the employer.
2. Is the form 16 need to be rectified
3. Can i just respond to the notice saying whatever filed is correct?
Thanks in advance.
CAclubindia
