06 March 2012
In my opinion it is compulsory. When an employee join our company. we take form 16 of previous employee or if not available we take declaration.
It is required to keep himself safe infront of income tax.
07 April 2012
Relevant portion of rule 26A of Income tax Rules,1962 is reproduced below.
The assessee may furnish to the person responsible for making the payment referred to in sub-section (1) of section 192, the details of the income under the head “Salaries” due or received by him from the other employer or employers referred to in sub-section (2) of that section and of any tax deducted at source from such income in Form No. 12B.
I, therefore ,said not compulsory since the word used in the above rule is 'may'.
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