Form 16 mistake by employer
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2013
My Form 16 has interest on Housing loan deducted from my salary income , but in reality I don't have any Interest on housing loan ..... as Company has considered interest loss TDS has deducted based on that.... what if I go according to Form 16 ..... ? IF I don't consider this interest on housing loan I need to pay tax along with interest penalty u/s 234B & C
Please advice?
Please advice?
CMA Ramesh Krishnan
(Expert)
04 August 2013
Since form 16 is wrong,you need to declare the correct position in your income tax return, so you may be pay interest u/s.234B &C. because you are failed to correct when your employer considered the housing interest wrongly
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