form 16

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2010 A lady employee joined in october and got a form 16 for the payments recd. upto sept. from previous company. Now in April, should we include the salary earned in previous in the form 16 to be given by us or give form 16 for the salary earned in our company from october to march. she earned 160000 in the previous company and 170000 in our company and saved enough to avoid tax by way of house rent and LIC after taking previous company income also . What is the rule position. kindly guide.

kartik_somu

kartik_somu (Expert)
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11 April 2010 Tax has to be calculated considering salary earned in previous company and tax deducted thereon, but it is not required to include that income in the current Form 16

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 April 2010 if the employee declare in previous emlployment income you can add and calculate the tax. and the form 16 no need to include the previous employment but there is space for other income delclared by the employee in that column you can show as previous employment salary

Rasesh

Rasesh (Expert)
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11 April 2010 No need to add the income. Only the tax paid has to be considered.

The employee will fill her income tax return on the basis of both the Form 16.