sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Income tax return (ITR) filing: EPF gives you tax benefit under section 80C, but there is catch
 Finance ministry notifies annual tax return forms for businesses registered under GST
 ITR filing: Use this last day checklist and avoid penalty
 Income tax return filing 2018: Claiming foreign tax credit – how to deal with practical challenges
 Are you liable to pay tax on money received as gift?
 What are the Income Tax benefits to donors of Kerala flood victims?
 Here’s how you can reduce your taxes on pension income
 How to reset password on income tax e-filing website
 Income tax returns (ITR) filing: Taxpayers must include assets while filing tax if earnings overshoot mark
 No penalty on late filing of ITR if your income doesn't cross this limit
 File your income tax return before July 31 to avoid paying penal fees

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.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions