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Income tax

garima (Homemaker) (67 Points)

13 April 2014

Hi all, I have a query!!

I am working in a company ABC and planning to move to another company XYZ. My joining is in mid of july 2014. what will be the procedure to pay income tax for FY 2014-2015 for april to july and aug to march 2015 , since my tax deducted at source will be with company ABC for the month april to july and company XYZ after aug ?

Kindly guide me with complete procedure and details.

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3 Replies

SURESHAN K (Auditor) (189 Points)
Replied 13 April 2014

You should collect details of salary received and TDS from the former employer and the same should furnish to new employer to enable him to deduct tax correctly.

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garima (Homemaker) (67 Points)
Replied 13 April 2014

Hi Sureshan,

Thanks for the reply. Should my salary slips and tax slips of Apr to July 2014 of the former employer be fine for the new employer as they do mention that tax deducted or do I need some formal notification from the former employer and submit it to the new employer ?

Regards

SURESHAN K (Auditor) (189 Points)
Replied 13 April 2014

Originally posted by : garima
	Hi Sureshan, Thanks for the reply. Should my salary slips and tax slips of Apr to July 2014 of the former employer be fine for the new employer as they do mention that tax deducted or do I need some formal notification from the former employer and submit it to the new employer ? Regards

I think salary slips and tax slips will do. You may furnish a declaration also if found necessary. After former employer files the TDS return, you may dowload 26AS from TIN-NSDL website.