Hi, I have shifted from one PSU to another in this current assessment year. Kindly advise me what form I should get from my previous employer and how to calculate the total tax?
Prashanth
(Chartered Accountant)
(2322 Points)
Replied 15 January 2012
Hi,
Ask your employer to give from-16 till date and claculation of tax will arise at the end of 31st March,2012...at the end of the AY combine both previous and present salary and calculate tax.
AVTAR SINGH
(Expert)
(1873 Points)
Replied 16 January 2012
You have to get Form 16 from previous employer. Submit Form 12B to the new employer giving details of salary and TDS deducted by prev. employer. Then the new empoyer will deduct the TDS on your combined salary. Otherwise, you will have to make payment of tax at the time of filing of return alongwith payment of interest u/s 234B and 234C.
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