Yogesh (Executive) (105 Points)
09 June 2015Mr. A was preparing his Income Tax return. He knew that he had received 3 incomes from different sources on which TDS has been deducted. Just in order to maintain accuracy before furninshing return, he checked his 26AS and to his surprise he noticed in 26AS that an amount of 30,000 has been deducted too as TDS on fourth source of income. He neither recived such income (fourth source) nor is aware about it.
What should he do? and how could this happen? what are the legal consequences, if any?
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 June 2015
It could have happened bcoz whoever has filed TDS return has given such credit to this person may be by mistake. If that other person comes to know about this, he might revise the same and correct it. It is better not to include such tax credit and inform the AO about the same
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