Hi
Notification No. 41/2010 [F.No. 142/27/2009-SO(TPL)], dated 31-5-2010 states as follows for previous employer income to be considered for TDS on salary:
(4) If an assessee is employed by more than one employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers and Part B may be issued by each of the employers or the last employer at the option of the assessee.
From here, its desirable that every employer should ideally give details of only pertaining to their part of income.
Now it so happens that previous employer has deducted excess tax. Lets take an example.
- Total tax liability was Rs. 1,00,000 considering current and previous income
- Tax deducted and paid and certified by previous company is Rs. 80,000
- Hence, last Company has paid tax of Rs. 20,000 considering total taxable income.
Now when 24Q is to be filed:
- Whether annual income should have total income including previous employer income? (in my view, only current income is to be considered as pervious employer income and tax is to be considered only for purpose of calculation)
- Also, if on stand alone basis and scenario as cited above is faced, should we show payable as higher amount and paid as lower amount in 24Q? (again I feel that we can show payable and file return and than we can explain in case a query is sent by IT department that on totality we have complied)
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