Hi Frndz.
In a Financial year an employee changed two companies. He got his form 16 for 10months and sumitted the same at the second company at the time of Joining. My query is when filing IT returns at the end of the year, is he need to submit two Form 16s? or have to submit the second employer form 16?
Comment Plz.
Thanks in advance
You should submit both the forms with your IT return.
You have to submit two forms. If return is being filed on-line using ITR-1 no need to submit any Form 16 If using ITR-2 fill up details of two emploters.
am having same case....new employer was given details old employer.
new employer shows consolidated [11]Total income = 700000 and Tax payable=70000
my total tax = 70000....new employer deducted 35000 and old employer already deducted 35000.
I haved filled SCH TDS1 of ITR-1 as follows ....[1]TAN of new employer, [2]Income chargable under head salary = 700000 (i.e [11]Total Income (after all kind of deductions) as shown in FORM-16 of NEW EMPLOYER), [3]Total tax deducted = 70000 (i.e Tax Payable as show in FORM-16 of NEW EMPLOYER)
Is this correct?
Also new employer ACTUALLY deducted tax=35000 only but I have shown tax deducted=70000 againt new employer's TAN Number in SCH TDS1 section because that was shown in FORM-16 of NEW EMPLOYER. Is this correct?
Or should i show the details of old employer also?
CAclubindia
