Form 12B

A salaried individual, who joins a new Company in the middle of the Financial Year, is required to submit Form 12b that has the income details of his previous employer.

Due to the change in jobs the situation arises, where the individual may get tax exemption benefits twice i.e., from his previous employer along with the current employer. The employee/individual must ensure that the tax exemptions and deductions are considered only once for that relevant Financial Year.

Below are the details that need to be furnished while submitting form 12b along with the previous Employer details, TAN number / PAN Number

Salary Break-up + Dearness Allowance, House Rent Allowance, Leave Travel Allowance, Leave Encashment, Perquisites etc.
TDS on Salary that is deducted by the Previous Employer
Professional Tax that is paid by the employee in case any,
Deduction for Provident Fund
Any Deduction that is considered against Rent-free accommodation
Deductions under other sections like 80C, 80G, 80D, 80E and Section 24 etc.