Income Tax TDS India ?

Question

in financial year 2007-08 i worked in 2 companies.

both company made TDS.

what will happen if i hide one company income and TDS ( as it is beneficial to me )

does the Tax authorities has the facility to vies all TDS of my PAN ?

will they cross check ?

what is your opinion ?

Answer 1

Your record can be accessed by your PAN number so do not try this.

Read http://mytaxes.in/index.php?topic=12.0

Answer 2

The companies which give u form 16 give a copy of the same to Tax Department also alongwith their TDs return.Further if ur case is selected for scruitiny,this falsehood may crop up.In case Income Tax People detect this,penalties are heavy.Better do not ever dare to play with Income Tax Department. U will loose ur night's sleep.

Answer 3

Hi,

I go with all the coments posted earlier. So dont try to HIDE.

You have an option to check your pan credits. You may enroll yourself for the service by paying nominal fee.

This will basically show the tax credits for a year.

"tin.nsdl.com".

You may surprised to find all your tax credits for the FY.

Answer 4

Don't you want to get your excess tax paid as TDS, refunded to you alongwith interest?  

Dear, pay attention to a slogan by Income-tax Department

"AVOID TAX BUT DON'T EVADE TAX"

Income-tax Department is connected online all over India.  They will get all your data wherever you are in India.

Answer 5

never do any manipulations with income tax department. they might catch this anytime, maybe even after many years. you would never know how it will show up in your profile. everthing is recorded and can be pulled up at any point in time

so be totaly straightforward in tax matters

Answer 6

Please note that most of the Firms now file the tax cheques to the IT Dept every month online giving details of the TDS of your each Employee (w.r.t your PAN). In effect, even if you are trying to hide, your PAN will give it away. You can also view the TDS done for you by all your Employers at http://www.tin-nsdl.com/panregistration.... after a one-time registration.

If caught, you will be liable to penalty and fine which will be well more than what you might have gained if you hid your income.

In effect, do not consider hiding income as an option.