HI Friends,
Presently as per my suitation i am working for two employers Curently:
First Company: June 2011 - Till date
Second Company: August 2011 - Till date
Now, both are giving me form 16. My queries are:
1) At the same year can i work for two employers (Employers offer letter doesnot specify any rule related to this)
2) How to pay tax, can i take both form 16 and pay taxes? Is thier any legal obejctions to the government?
Please let me know
no.there is no legal objection from the view point of the income tax act 1961.
hence you can very well work for both the entities and your salary recieved from both the employers will be taxed.
| Originally posted by : prem_chak | ||
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no.there is no legal objection from the view point of the income tax act 1961. hence you can very well work for both the entities and your salary recieved from both the employers will be taxed. |
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THank you prem..... is thier any additional rules while filing the taxes?
| Originally posted by : Anooj | ||
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Details of all the salary income should be shown in one form. One person cannot file return twice. |
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HI Anooj, you are right, but both employers are providing separate Form 16's, while filing the tax i can show to Form 16's right and pay tax based on combination of both them, right?
Yes, u add both the salary amount from both the employers under the head "Income from Salary" and provide both the Form 16 and file the returns, U can't file your returns twice for different Employeers. 
CAclubindia
