Incorrect form 16 from previous employer.

Go as per bank statement....... that is as per actual receipt but for TDS deduction.... follow 26AS.

Thank you sir for the quick response, but could you please correct my understanding, so the income declarationto be based on bank statement but tds deduction as per form 26AS, but in that that case wont there be a refund from I.T, but if they refile the it wont that cause problem to me. Please enlighten me sir.

TDS deducted as per form 26AS is the amount already available to your credits....... deposited with IT department.............. So, unless the employer revises it, you can claim it, and department will accept the claim. Department cannot tax you for salary not received by you; as salary is taxed on receipt basis. In case of any rectification of data by employer, you will not be held responsible.

Dear Dhirajlal Sir.,

Thank you for the reply... One more doubt in above said query....

His salary Rs. 100000/month X 3 months = 300000 * 10% = 30000. Employer Deduct TDS Rs. 40000 + 1200 = 41200 (Calculate 4months).

Then ll be file the ITR Salary Rs. 300000 and Tax on 30000+900 = 30900

Tax on Salary Rs. 30900 - TDS Rs. 41200 = (10300). Then its Refundable.

My doubt is .,

Above situtation is correct or not. Bcoz, Your reply is Show the salary as per Bank Statement and Show the TDS as Per 26AS. Then problem ll be in future are not...? In case any notice from ITD hoe to dealt in this case....

Please reply Sir...

(Already i follow the query. And i think & I want you ll be attend this query. Thanks to god for your attend)

Thank you sir, but ideally speaking the period i stayed 2 months with that company, they have not taxed on my salary because my salary for 2 month is < 2.5 lakh. but only in the form 16 there is a inflation in the given salary amount and the they depict as if they have taxed me. please acknowledge my understandings.

1.) I can file the ITR based on the amount recieved in my bank account.

2.) The tax deducted can be shown as what ever my 26AS form shows.

3.) when i  file the ITR, the refund if available will be credited by I.t dept.

4.) If in case that company refile correctly then my form26AS might show different tax amount, only in this case will there be any problem since i might have got refund.

please validate, Thanks.

Thank you very much sir, It is indeed a great pleasure having a conversation with you.

Yes........... its my pleasure.........

And for point no. 4. There will not be problem........ if department has accepted your claim and paid you refund in first case. so, whenever any rectification by employer reduces your tax credits, then department will first raise demand for the differencial amount, which you will be required to pay back, (naturally, no interest or penalty, when paid within 30 days)

@ PM Raja:::::::::: In nutshell, I have already replied it in earlier post.

Say, When he has received 30000/- salary......... he has that amount credited in bank statement as proof.  ["Department cannot tax you for salary not received by you; as salary is taxed on receipt basis"]........ He should not worry for any statement of his employer, may be the employer wish to take more expense benefit !!.

Now, when department has credit of 41,200 to your credits........... you can claim it. (Does department give us credit of our demand if our demand is more than what they have credits?). Finally, its department's job to verify data from both ends and accept/reject the claim !!!

Any doubt...... ask....

No Sir.,

Actually i'm typing at the movement of your reply. After submission i see your reply. So, i'm late.

Thank you for Reply

No Sir.,

Actually i'm typing at the movement of your reply. After submission i see your reply. So, i'm late.

Thank you for Reply