I worked with two cos in the FY 2011-12. First (Apr'11 to Oct'11) and second (Oct'11 to Mar'12). In the present company i had declared preious income and TDS details in Form 12B. They had considered the same for calculating tax liability for the whole year (done the right thing). But in the Form 16 issued by present employer, both the companies income is stated as Gross salary, but TDS for previous company not included. I agree that TDS pertaining to the employer issuing Form 16 alone should be reflected in it. While filing, if i use both Form 16 details as such, it will lead to double counting of my previous emp income and results in additional tax liability (which actually is not the case). Further, HRA has not been considered by my previous emp as they normally accept the proofs only towards yr end. The present employer has not considered conveyance allowance exemption of previous emp. For filing, should i use both form 16 and exclude previuos emp income from present form 16, while retaining the other details. Pl suggest as to how should i file.
CAclubindia
