Income from two employers

This query is : Resolved

sadik (Querist)
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24 March 2009 Dear All,

I need your opinion in the following matter: I was working with Company A from 1st April to 17th October and received gross total income of 5,38,000/-. On this amount Company A has deducted Rs. 77,000/- as TDS against actual liability of Rs. 56,000/-. I joined Company B from 3rd November and will be getting gross total income of 3,96,000/- up to 31st March. Company B has asked for the income and TDS details of my salary from Company A.

Company A has not issued me Form-16 yet (they say it will be issued in June-09). I have got a final tax calculation statement from Company A as on the date of leaving (17th Oct). However, it is just a statement of tax calculation from 1st April to 17 October and does not have any proofs of tax deposited etc.

Company B accountant says he will not club the income as I don't have full details of taxes paid etc. (details as given in Form-16). Accountant of Company B says he will only consider 3,96,000/- as my income for the year and will assume that I have not given any details of my income from Company A. He says, should he club the income of company A, he should need all the details like cheque numbers and bank details including the date of deposit of tax.

Is this correct stand? Is statement of tax calculation issued by company A not a conclusive enough proof to assume that tax would have been deposited in income tax in my account?

His argument is that I can later on club two form 16s and prepare a final return on my own and pay any outstanding tax on that. Please suggest what should be the best course of action for me.

CA. Harinder Kumar

CA. Harinder Kumar (Expert)
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25 March 2009 I my opinion company B accountant should consider statement of tax calculation issued by Company A. But if he is not considring that there is no problem you can file the income tax return on the basis of 2 form 16 issued to you

O.D.SHARMA

O.D.SHARMA (Expert)
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25 March 2009 u can ask company 'A" to issue form 16,Without proof of deduction no chance to get Cr. & Accountant B is still considering your declaration.He is right to deduct tax.u claim in your return & u can also deposit if computation shows less TDS deducted.simple computation of Accountant A doesn't stand any where.

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