Income tax

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seeta (Querist)
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16 December 2014 Sir suppose Mr Y(Properitorship under audit) has filled tds return of salary employee with net taxable income and employee has filled his return and it is processed at cpc and Mr.y has filled his audited report with total salary. It will make any problem kindly reply us on urgent

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 December 2014 why there will be problme????

seeta

seeta (Querist)
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16 December 2014 audit report show of total salary paid and tds return amount with net taxable salary

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 December 2014 then u rectify either of them...............

seeta

seeta (Querist)
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17 December 2014 how shuld i rectified it it is case of FY 2012-13

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 December 2014 u file a revise return for the employee as time limit for fy 12-13 is 31.3.2015

seeta

seeta (Querist)
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17 December 2014 Suppose if employee not revised the return what will happen

reply on urgent

seeta

seeta (Querist)
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19 December 2014 Suppose if employee not revised the return what will happen reply on urgent

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2014 then in assessment they will find out the mistake and penalty may be imposed.

seeta

seeta (Querist)
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19 December 2014 time limit for assessment and how much penaly will impose

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 December 2014 cant say which assessmnet will be done like 143 (1) or 143(3) or 153 or 148 etc all have diff time limit and penalty min of 100% till 300 % of tax sought to be evaded.

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Income tax

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