if a company tds booked by mistake in another person in behalf of own emplyee but after he realised tds should be book on the name of his employee not another person. so compant can file correction return in f.y. 24-25? can company availed challan in f.y. 24-25 because company booked tds in f.y. 21-22? please suggest if another person already claimed tds in f.y 21-22 & filed income tax return than what will be consequences in case of company & another person.
Company can file correction statement. it is advisable that the company reaches out to other person and inform him about this. ideally, other person shouldn't have claimed the tds credit as the corresponding income wouldn't have been offered to tax by the other person. consequently, other person would have claimed a refund of the tds which it would now be required to pay back to the government alongwith the interest.
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