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Tax credit mismatch

Kaushik Vankadkar (Service) (350 Points)

05 October 2013

Hello,

I have filed tax returns of individuals. However, the tax deducted by the organisation was not paid on time and the return was also not made on time. Due to this the assessess have not got any tax credits. They have got intimation u/s143(1). I have replied via online mode stating the tax deducted details on the IT website. Despite, this a new "Demand Notice" is issued by A.O.

How should i go about this. Should I reply to the notice or any other way I can choose.

Thanks,

Kaushik

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5 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 05 October 2013

Why has the organisation not deposited TDS and not filed TDS return? Unless they do this, 26AS shall not show tax credit and IT dept won't recognize the tax credit. Ask the organisation to immediately so the needful otherwise the individual will have to pay tax with interest.

@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 05 October 2013

Correct agree with Mihir...

Kaushik Vankadkar (Service) (350 Points)
Replied 05 October 2013

Hi mihir, Thanks very much! They hav deposited tds and filed as well. Dont know why mismatched. And yes i hav already got demand notice.. Please suggest. Kaushik

Mihir (Wealth Manager) (5293 Points)
Replied 05 October 2013

Bring the error in TDS return to the notice of the organisation and ask them to make corrections immediately. In case they don't do it, then you may have to pay the tax yourself, and thereafter claim refund when the organisation does correct the TDS return.