Form 16

This query is : Resolved

RAMSANKAR MISHRA (Querist)
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19 June 2009 During issue of Form 16 it was found that some of the employees have their TDS u/s 192 less deducted and some are over deducted. Let;s for examples my TDS amount on my income for the year is 5000 but actually it was deducted 4900 or 5100 at the year end as the case may be. Then what can be done while issuing form 16 to me by my DDO or who so ever is responsible for the TDS on my salary.What ll be the consequence for me and for the DDO.

Deepak Goel

Deepak Goel (Expert)
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19 June 2009 You can accept form 16 as they will issue to you and deposit balance tax if any or get refund if excess tax deducted as the case may be.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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19 June 2009 agree with the expert

RAMSANKAR MISHRA

RAMSANKAR MISHRA (Querist)
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19 June 2009 Who will deposit the balance amount. Is it attracts interest. Is there any rule to penalise the DDO or the person responsible for the deduction of tax. Please clarify.

Ratan Sharma

Ratan Sharma (Expert)
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19 June 2009 If the amount is short deducted then the assessee will have to pay interest while filing his return of income. The DDO can be penalised u/s. 271C upto the amount of short deduction of tax.

O.D.SHARMA

O.D.SHARMA (Expert)
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20 June 2009 Dear,See the computation of DDO first & if excess deducted go for refund.TDS Short deduction cases there is a possiblity that he have waited for your declaration or investments.U can pay in your final computation of return.

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)
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28 June 2009 Ultimately, employee has to pay balance tax before filing his return of income if his employer has deducted TDS short.

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