Mr. X had two employers for the previous financial year 15-16 (AY 16-17)
He worked for 4months with first employer...
Then he changed jobs and worked for the remaining 8 months with the second employer..
The SECOND employer issued FORM 16 for the year WITHOUT incorporating the salary of the FIRST employer..
Can Mr. X still submit FORM 12B after issuance of FORM 16 by the second employer???
What are the options left??
Mr X should file his income tax return now [since the year (FY 15-16)has already ended] and considering both the salaries pay the tax with interest if any.
a. Dont see that submitting Form12B to later employer and getting a consolidated Form 16 for AY 2016-17 would be feasible now.
b. Action: File the IT Return for that period (After payment of taxes,if any) that includes Income from both employers.
Can Mr. X request the FIRST employer to issue FORM 16 for 4 months and file ITR by combining the FORM 16 of both the employers?
AGREE WITH ABOVE ALL,,,,,,,,,,,,,FORM 16 IS NOT COMPULSORY FOR FILE ITR.,,,,,,,,,,,,,,,SO MR X SHOULD BE FILE ITR AS PER SALARY WHICH IS HE RECEIVED FROM BOTH EMPLOYER,,,,,,,,,,ALSO PAY TAX WITH INTEREST IF X IS LIABLE BEFORE FILE ITR,
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
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