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Tax queries: Contact employer to get Form 16 error rectified
November, 22nd 2017

The date purchase of the new flat in Mumbai can be considered as the date of possession. You can sell your existing flat within one year from the date of the possession of the new flat or sell the existing flat at any time before two years of the date of possession of the new flat. The investment in the new flat should be equal to or more than the capital gains earned on the sale of existing flat.

My employer did not deposit the TDS amount from my salary for AY 2017-18 to the income-tax department, causing mismatch in my Form-16 and 26AS. I have been told by the assessing officer that I should file the return as per Form-16 issued by the office, which I did. Now, after processing my return, the IT Dept pointed out a mismatch of Rs 5,562 u/s 143(1) of the IT Act 1961. Also, it mentions the interest of ?1,226 payable under section 234 B&C. The total amount payable by me is now The total amount payable by me is now Rs 6,783. What should I do? Here are my details: Total tax payble as per Form-16: Rs 98,190; total TDS deducted by the employer as per Form 16: Rs 93,416; total tax paid: Rs 99,866 (including S.A. Tax on other income); TDS shown in 26 AS: Rs 87,854. Extent of mismatch: Rs 5,562; total amount payable: Rs 5,562 + Rs 1,226 (interest). — DALJEET SINGH

You can ask your employer for the discrepancy. If they file a revised return and disclose the correct amount of Rs 93,146, then you will get full credit. If you have proof that your employer had deducted the sum of Rs 93,146, but paid only Rs 87,854, then you can file a complaint to CIT TDS. If you fail to resolve this issue, then you will have to pay the differential tax and interest.

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