Tds return

Srinivas (Student) (33 Points)

24 October 2016  
In our company we accept public deposits. As per new amendment we need to mention in the returns interest amount payable to parties. But if we mention interest amount it will appear in 26AS of the depositor. Deposit holder gives 15G because his income does not exceed the basic exemption limit. After filing the return if the deposit holder prematured the deposit then the interest payable will be reduced. In that circumstances if the deposit holder deposit that withdrawn money in another company, there are also he get interest and that company also file the returns and mention the interest payable to him and it will appear in 26AS. here total amount appear in 26AS exceed the basic exemption limit but the actual interest earned by him was below the basic exemption limit. so what should i do in the point of view of first company?