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Erroneous reporting of earning and TDS on income tax portal
25-Feb-2023 (In Tax Law)
I am a consultant with a small Mumbai based family owned unlisted company. The company has paid me only for first 3 months of this F.Y. But on my Form 26AS in the tax portal, the earning and TDS being shown by the company is 3 times higher. If the company does not correct this error in time, I have to pay much higher tax than my actual earning. What should I do?
Well, in that case, you have two options : Either you can contact Company's CA to do the requisite corrections in Form 26AS within time, otherwise, go for the filing of your returns as per your actually earnings and expenses in a year, then later on, Enquiry will be called in, at that point of time, just you need to have evidences of your actual earnings and expenses i.e Bank Statement and other requisite proofs.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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