authenticity of investment proof
This query is : Resolved
Manju Mehra
(Querist)
23 March 2010
Hi! All
Is employer responsible to check the authenticity of the investment proof submitted by the employee?
can anyone help me with the relevant case laws?
Warm Regards - Manju
Is employer responsible to check the authenticity of the investment proof submitted by the employee?
can anyone help me with the relevant case laws?
Warm Regards - Manju
M Prabhakar Menon
(Expert)
23 March 2010
This is vicarious responsibility,as the receipient of the investment u will be required to submit a list of investors with their sources to the Income Tax /banks/FIIs etc As per the current practice it is advisable to obtain the PAN of the investors and the correct postal addrtess of the investors. Your/employeer's responsibility ceases if u submit this data.
23 March 2010
It is the employers duty to check the authenticity of the data submitted by the employee. The declarations should be backed by photocopies of the investments made. If possible, the company should get the same audited internally.
M Prabhakar Menon
(Expert)
23 March 2010
It is not the responsibility of the employer to scrutinise the data provided by the employee. It should be authentic prima facie.
CA Ashok Kumar Sahu
(Expert)
23 March 2010
i thing collect xerox copy and declaration is sufficient
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Accounting treatment of AMC alongwith the purchase of Laptop
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
