Tds of new employee

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Dheeraj Chopra (Querist)
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06 February 2014 Please describe in details the procedure to compute TDS to be deducted of a new employee in a private limited company, having salary income from ex employer as well as current employer, besides business income and income from other sources.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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06 February 2014 you need to consider the salary earned from the previous employment, business income and income from other sources to the extent such information is provided by the employee. Please note that no loss except from loss under "income from house property" is to be considered.

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Dheeraj Chopra

Dheeraj Chopra (Querist)
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07 February 2014 Thanks Nikhil Sir, But is there any specified form or format to collect such information from this new employee?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 February 2014 yes. Form 12B https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form12B.pdf