In an hypothetical situation : an executive dir. of the Co. was paid in accordance with sch. XIII in F. Y. 2010-11and due to oversight certain incentive is paid to him whereby the amt. goes above what is resolved and permitted under sch.XIII of the act. and the tds was deducted and submitted by the Co. and The individual dir. has not yet to filed his return.
then how the error can be ractified.? from CA act' 56 point of view and form the I. tax act' 61's point of view for both the co. and the director.
Kindly comment on the issue with practical solution.
CAclubindia
