CA Arindam Sain (Practice) (308 Points)
27 May 2010Hi, Could any one help me on following matter?
If a person employed part of the year to a employer and another part of year to other employer and the person fails to obtain Form-16 from first mentioned employer then how he will file income tax return.
Person's salary--1st job-Rs 500000 p.a
2nd job-Rs800000 p.a.
Both the co. deducted tax (TDS) in propotion of months served considering Rs 1lac deducion u/s 80C.
please help.....
Rachit
(Analyst)
(913 Points)
Replied 27 May 2010
Though presently you do not require to attach Form 16 alongwith the return of income. But still it would be advisable to collect the same from your previous employer.
File the I. Tax return showing aggregate of salary received from both emloyers and consider aggregate of TDS too. In case of any shortfall, pay the balance as SA tax alongwith interest.
You may check your TDS status online from Form 26AS on NSDL web site
Jasmeet Singh
(Audit Senior)
(911 Points)
Replied 27 May 2010
Sometimes in this type of case employee give their details of previous employer salary to new employer and bcoz of this no TDS liability occurs.
But if he/she does not declare previous salary to new employer then while filling IT return TDS Liability occurs. You have to club salary from both form 16 and then calculate tax liability
Riya K S
(Student)
(76 Points)
Replied 27 May 2010
Isn't it feasible and necessary to submit the exact amount of TDS deducted from each employer?? and i guess every new employer demands previous salary statement before joining.
Jasmeet Singh
(Audit Senior)
(911 Points)
Replied 27 May 2010
N V Ram
(Manager)
(272 Points)
Replied 28 May 2010
At the time of joining with new employer try to get Form12B filled & signed by the new employee where he/she has to give details of Previous employment, i think with that u can calculate tax eventhough Form 16 is not available
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 29 May 2010
Dear Author
I agree with Mr. Rachit.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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