The assessee "MAY" furnish Salaries due or received by him from the other employer to curreent employer.......
Question is, whether is it necessary to furnish previous employer's salary to current employer for TDS purpose,
if not,
then will it be any non-compliance if employee has submitted last drawn salary slip at the time of his joining & we are not deducting tax on his prevoius salary becoz he has not submitted Form 12B?????
07 March 2012
Yes, it is required furnish the previous employer's salary details to current employer. According to section 192, it is the option / discretion of the employee whether or not to file Form No 12B. The current employer can’t insist on filing of Form No 12B. If the employee chooses not to file, then employers’ obligation is limited to compute TDS on salary payable by him.
If Form 12B is filed, then current employer can deduct the TDS on salary paid by previous employer (in case no TDS was deducted by previous employer). And if the TDS was deducted by previous employer, any excess or shortfall can also be adjusted.
It is always in the interest of an employee to furnish such details because otherwise there can be duplication of exemptions and deductions and there can be a shortfall in tax deduction and as a result the employee would become liable to deposit advance tax.
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