Hello, Friends,
One of my client is having two PAN cards. He mentioned both the PAN to diffrent deductors of TDS. Thus, TDS got deducted under both the PAN cards and Form 16A issued. Later on during filling of income tax return he faced problem whether to file one IT return or two returns. But, after discusing with some colleagues he filled return only by one PAN card and also claimed the TDS credit of the other PAN card.
Now IT department has issued a Demand regarding short payment of Tax. He is ready to surrender one PAN and pay penalty of RS 10000 as specified.
Questions
1. How can he claim TDS credit of other PAN card
2. Do he need to file another return with inteterst and penalty and if yes then can he will be registered in income tax website with TWO PAN.
3. Do he needs to fille two income tax return for the same Assessment Year to claim TDS credit of the tax deducted in both the PAN.
4. How can the demand notice wii get settled.
CAclubindia
