More than one employment in a year

The current employer is liable to dispose off your tax liability as at the end of the year.

The previous employer had liability towards the period for which you were employed with him, after cessation of which, the current employer will assume the responsibility of the same. 

Ahshay Jain

What do you mean by assessee? Do you want to mean the individual who is paying tax for his salaries is the assessee?

What is self assessment tax?

To me, an employer is responsible for TDS of salaries. So in this case the individual cannot be fined/blamed rather the employer should be blamed/fined if during filing return by the individual, the individual has not taken care of the amount that the Income tax department should get for the earning of salary by the individual.

I am not a CA.

Thanks

Akshay

Who between employer and assessee will be fined by IT department in the above case  if the assessee  do not pay it during filing return? Should not it be the employer who should be fined by IT department as this is TDS for salary and hence responsibility of the employer?

Thanks

Hi,

The Income tax has prescribed 'Form 12B' for such cases. Here, the individual (like urself) needs to detail his employment related income and corresponding TDS from earlier/ previous/ all other employers, to his new employer. The new employer, based on this declaration (in Form 12B) estimated the total annual salary income and TDS for the individual and then estimated the balance/ remaining TDS (after considering the TDS already deducted).

By this method, the individual (like urself) will not have any additional tax liability for his salary income for the year and also his employer will not be at any fault.

Cheers