Company has not issued form 16 ? what next?

Tax queries 631 views 4 replies

Ankit

MBA

25 Points Posted on 11 July 2013

My Company is in a bit of crisis, and has not issued Form 16 to us, because it has not deposited the TDS deducted from our salary to Tax department, as I can check from my Form26AS. This is the same case with all other employees. Moreover, in my case, there is a refund applicable because of higher TDS deduction in income from some other source. How should I proceed in this case? Becasue if I do not file return, I will not be getting any refund.

Also what if I do not file return on time, say, fill it after one of two month of deadline ( hoping that current company will submit TDS by that time), will there be any impact on my getting of refund ?

Replies (4)

CA CS Roshan Begrajka

Chartered Accountants

267 Points Posted on 11 July 2013

If in return there is any tax payable amount then interest u/s 234 is applicable but if there is any refund or no tax payable then said section not applicable. and ur last date of be-lated return filing date is 31.03.2014

Dipjyoti Majumdar

CA in service & CS. dipmaj@

3505 Points Posted on 11 July 2013

As pointed by Roshan wait for sometime till the employer company turns around and file a belated return. but remember a belated return cannot be revised. And the company should not take a stand that due to poor financial condition it is not depositing the TDS. Ideally you should bring this to the notice of your assessment officer.

Regards,

Ankit

MBA

25 Points Posted on 12 July 2013

Thanks, Roshan and Dipjyoti, for the response.

CA Rohit Maurya

Associate

213 Points Posted on 12 July 2013

As the company has not paid the tax and than as per Section 201(1A) will be liable for Interest and As per section 276B will be liable for penalty for the same.

As far as your concern you can file your Return Before 31.03.2014 as you have refund case. and with that you should claim your other TDS. and file the return and claim your employers TDS when ever is deposited.

Best of Luck.