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Significance of the Form no 12B

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(Querist)
06 January 2011 Hello Experts,

Could you please explain the provision related to Form no 12B. My queries ar as follows:
- Who is required to issue form 12B ?
- Is it compulsory to issue for no 12B?
- If an employee joins the new company mid of the year and unable to submit Form 12B to the new company, in such case will it be the liability of new employer to deduct TDS on his income for the whole year (Including income of the previous employer)

Please reply.

Thanks & regards,
- Rahul
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
14 January 2011 Form 12 B just a declaration about the employees about his previous employment declaration. if Form 12B not submitted, current employer need to calculate only current salary
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