Trader
2616 Points
Joined August 2009
In case your PAN reflects this payment on Form 26AS when you log in to the tin.nsdl.com, you are very safe as the department will acept the credits as recorded by NSDL. However if your deductor, having deducted from you the tax at source, later on goes to NSDL and makes a rectification that the tax deposited is not on account of your PAN, you will find both entries in your form 26AS. First the amount having beeen credited to your PAN and then the amount being debited to your PAN. However, if deductor does this without your written permission, he will be committing a non bailable offense as having deducted the tax he has not paid the same. That is enough grounds for even imprisonment if prosecuted by the department. The writing on the wall is it is a serious offense if after having deducted the tax he has not deposited the same. The offence becomes a little less if he has not deducted and not paid the tax. In these cases generally they get away with monetary penalties. In your case, if deductor has deposited the tax but not issued the certificate or issued it late, there are seperate penalties for this. Read the appropriate section.
For you it is important to first register for Tax Credit View with tin.nsdl.com and see what your form 26AS states. It will give you list of TDS under all sections, list of TCS as well as list of taxes deposited by you to the Bank. Once you have this list then you proceed further as applicable and suggested by others.