Incorrect form 16
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2016
if due to incorrect form 16 from the employer, an employee makes mistake in filing the tax return, if company /organisation not willing to rectify that mistake because it will be lengthy process for the company, can the employee file a revised return before the expiry and if he filled the return in time(31 July).
Will the employee be penalized for making the new revised return, which will show more income than that is there in the form 16? form 16 shows less income that actually paid to employee.
Will the employee be penalized for making the new revised return, which will show more income than that is there in the form 16? form 16 shows less income that actually paid to employee.
23 May 2016
No,Employee will not be penalised for revising tax return. If salary income shown more than form 16 than you have to pay tax for difference.
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