FORM 16 FOR SALARY REPORTING OF MORE THAN ONE EMPLOYER

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Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2010 can anyone pls reply on the same??

If employee receive salary from more than one employer, and has changed the service say from employer X to Employer Y, then while issuing form 16 by employer Y, under which heading the salary received and TDS amount from employer X be shown??
as there is no such heading where the salary received from previous employer X be reported in form 16 by the current employer??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 May 2010 you need not to incorporate the previous employment details in your form-16. just for tax calculation purpose you can include the income and deduct the tax.in form 16 only your company details need to be shown while consolidating the both form 16 (yours and previous) it will match total income and tax.( no such including provision also in form-16 format)

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CA Suresh Kumar Agarwal

CA Suresh Kumar Agarwal (Expert)
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11 May 2010 Dear both employers will issue you separate form 16. there is no need to merge the salary paid by other employer.

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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11 May 2010 Salary details from form 16 of previous employer is only considered by current employer for calculation of tax liablity of you. You have to fill up the details of both form 16 in your return.

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2010 Thankss to All for reply
My Question to CMA. Ramesh Krishnan and other
since for tax calculation purpose, salary from employer X and TDS be given in form 16 to be issued by employer Y, according to sir CMA. Ramesh Krishnan.
My Question is whether salary received from employer X (previous employer) be reported in form 16 issued by employer Y under the heading "ANY OTHER INCOME REPORTED BY THE EMPLOYEE" as given in Form 16?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 May 2010 Only salary for Employer Y can be shown, Salalry of employer X should not be shown even other income head also only other than salay income need to show not previous employer salary

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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18 May 2010 AGREED WITH MR. RAMESH, SALARY OF EMPLOYER X WILL NOT SHOWN IN FORM 16 OF EMPLOYER Y.
IF YOU ARE USING ANY SOFTWARE FOR E-FILING OF TDS RETURN, THERE IS A FIELD IN WHICH PREVIOUS EMPLOYER SALARY IS FILLED. BY THIS, IT IS CONSIDERED ONLY FOR TAX CALCULATION , BUT NOT SHOWN ANYWHERE IN FORM 16.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2010 Thanks a lot to All..
Further query on form 16.
my question is:
if company 'X' pays some amount of money every month to supperannuation fund of LIC of the employee A, which is in addition to the amount of salary received by the employee during the year. should the amount contributed to supperannuation fund of LIC by the company 'X' of employee A be shown with salary income (if it is taxable in the hands of employee) in Form 16??
if not taxable, then what should be the treatment of showing the same in form 16? if not taxable, should it be merged with salary income in form 16 and then supperannuation amt merged with salary income above be shown as deduction under heading exemption u/s 10???
if not then please guide me on the treatement of the same in form 16?? and also i would like to know if the company contributed the supperannuation amt every month to the fund, can company treat the same as exps in its profit and loss account?? also what would be the treatement of the same at the time of maturity from fund?? pls reply..

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