Excess deduction in form 16

This query is : Resolved

ANKUSH (Querist)
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14 July 2016 Hi All

I got form 16 for FY 2015-16 from my co., showing Deduction u/s 80C 90000 which is incorrect.

I have invested only upto 40000.

How to proceed with ITR filing, should i show 90000 or 40000.?

Amol S Joglekar

Amol S Joglekar (Expert)
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14 July 2016 you need to show 40000 and pay the short fall in tax if any

Sathish M

Sathish M (Expert)
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14 July 2016 To the extent of actual Investment made by you must be shown in the return. Any short fall leading to tax liability must be deposited with the Government before filing your return of income.

ANKUSH

ANKUSH (Querist)
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14 July 2016 Should i intimate to my co. for correction in form 16 &

can i claim other allowances showing in form 16 in my itr.

Amol S Joglekar

Amol S Joglekar (Expert)
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15 July 2016 You may notify the change to your employer.

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