Case law of the day!!!

TDS Credit is Allowed, Even There is :-

 

1. Not reflecting in Online 26AS

2. No TDS Certificate is Issued

3. Proper Documents should be shown.

 

Pls check here Case law of CitiCorp Finance Limited.


Attached File : 33834 1238405 tds credit to be given citicorp finance india limited vs the addl commissioner of income tax.pdf downloaded: 344 times
Replies (7)

yes

Does this mean that if a company deducted TDS and fails to deposit TDS, the employee can furnish evidence such as salary slip to the ITO to allow tax credit? 

yes, very much correct.

Originally posted by : Mihir

Does this mean that if a company deducted TDS and fails to deposit TDS, the employee can furnish evidence such as salary slip to the ITO to allow tax credit? 

They need to submit form 16 in case of salary & for other case Form 16A.

This is better. Plenty of employees are complaining that their company is deducting TDS and they do not get the tax credit in time or never get the tax credit because the company fails to deposit TDS or fails to file TDS returns. 

Main reason for employees not getting tax credit is either they have not provided PAN number or incorrect PAN no. updated by company due to error in transfer of information between employee > HR > Payroll.

 

Employee has to check Form 26AS quarterly to ensure proper receipt of TDS.

 

Thanks

Even Form 16/16A has not been issued then also one can take credit showing salary slip and deduction proff.

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