Tds

This query is : Resolved

NAVA YUG (Querist)
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01 May 2012 Sir,
One of our client's tds amount not deposited by the company. TDS not shown in 26AS, but there is Form 16A which shows the amount deducted. Can he take any action against the company?
What will be the next procedures.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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01 May 2012 He can inform the Income Tax department about the same. Further, he should ask the company file the TDS return.

Next procedure shall be proceed with the filing of Income Tax return of the Client. When there will be mismatch, the IT department will itself start taking action against the company.

Ram Ji Srivastava

Ram Ji Srivastava (Expert)
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01 May 2012 One more alternative option, you have to inform your deductor for making revise TDS return and you should inform him the said matter in details and also provide him your 26AS copy and your form 16A. defenetily they will revised the return and your problem will be resolved easily.

CA Kishore Tallam

CA Kishore Tallam (Expert)
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01 May 2012 Availability of Form 16A doesn't entitle an assessee to claim advance tax. It has to be reflected in 26AS. U can ask ur client to file TDS return with details of the company. Then it will reflect in 26AS and the assessee can take credit.
The department is very clear not to accept any Form 16As.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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01 May 2012 There is a system at IT department whereby it sends notices to those deductors who have issued form 16, but have not files the TDS returns. They are tracked on the basis of the IT Returns claiming TDS Credit, but no credit is available at 26AS.