Form 16
This query is : Resolved
Satish Sachdeva
(Querist)
24 May 2010
If a person had worked in one organisation from April 2009 to september 2009 and later joined new organisation from October 2009 to March 2010.
In previous organisation he had a refund of Rs. 2,00,000/- as the compay had deduted excess tax on his income. in the new organisation he got the benefit of the excess tax deducted in previous organisation.
Now at the time of finalisation of form 16 there is tax payable on the income earned in new organisation but overall tax laibility is nil.
Can we show tax payable in form 16 of new organisation? or is there any other option to show complete tax laibility and deduction of the same?
Please advise as it is little bit urgent.
regards
Satish Sachdeva
In previous organisation he had a refund of Rs. 2,00,000/- as the compay had deduted excess tax on his income. in the new organisation he got the benefit of the excess tax deducted in previous organisation.
Now at the time of finalisation of form 16 there is tax payable on the income earned in new organisation but overall tax laibility is nil.
Can we show tax payable in form 16 of new organisation? or is there any other option to show complete tax laibility and deduction of the same?
Please advise as it is little bit urgent.
regards
Satish Sachdeva
CMA Ramesh Krishnan
(Expert)
24 May 2010
you can show as payable if you got the proof of form 16 for refund from previous employer
CMA Ramesh Krishnan
(Expert)
24 May 2010
you can show as payable if you got the proof of form 16 for refund from previous employer
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