Income tax & form 16

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 January 2015 Dear Sir,

I have some queries about TDS of New join Employees in Mid FY.

One Employee was left a job in mid FY (Say Nov-14,

- Can he demand his form 16 in Mid Year (His Tax liability is Nil.)

- is he free to not to submit his form 16 in his new joined organisation.

- can He fill form 12B, and give NIL Income & TDS from last employer,

- He will take responsibility for his Tax liability.

Please suggest

Best Regards

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

13 January 2015 1. yes in mid year will be given form 16
2.no, need to give new company old form 16 from old co

3.no, full details of prev employee and salary needs to be given as already it dept have the knowledge.

4.no

Rupesh Jain

Rupesh Jain (Expert)

13 January 2015 YOU ISSUE FORM 16 PERIOD TILL LAST DAY OF WORKING.
OLD FORM 16 DEMAND OR NOT, DEPEND ON THE NEW COMPANY.
TDS RESPONSIBILITY OF EMPLOYER NOT THE EMPLOYEE.
TAX ON INCOME OTHER THAN SALARY(NOT DECLAR TO EMPLOYER ) WILL BE RESPONSIBLITY OF THE EMPLOYEE.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

13 January 2015 1st of all form 16 can not be given in the middle of the year. Form 16 is issued once after the end of the financial year and after the last quarter TDS return is filed and online form 16 is generated from TRACES website. So even if you demand he can not give you form 16 generated from TRACES website.

You are advised to submit correct particular of Income from previous employer to your present employer so that the TDS can be deducted accordingly.

Remember Income Tax department will get all the details of your Income, be it from old employer or new employe,r from the TDS returns filed by the employer.

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