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Two Form 16 for a FY

Nithy (PA) (24 Points)

22 April 2010

Hi All,

For AY 2010-11 (FY 2009-10), I have worked in two companies ( 10 months in first company, and 2 months in next). In second company, my income have fallen under minimum slab and so they didn't deduct TDS for 2 months. While filing Tax return,s how can i file? Do I need to get consolidated Form 16 (If its there anything like that)? or With the help of two Form 16s, do I have to file the returns?.

Kindly help on the above mentioned issue

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9 Replies

Kaushik Vankadkar (Service) (350 Points)
Replied 22 April 2010

No, no need for consolidated form 16. Infact there is no concept of consolidated form 16 as such.

You will have to calculate it aggregating both salary and claim tds that is actual and the resulting tax payable will have to be paid.

1 Like

SUDHIR & PRADEEP JI (CA FINAL+LLB + DISA) (2299 Points)
Replied 22 April 2010

dear Nithy

you have to take 2 form 16 each from your employer, it does'nt matter wehter it has deducted your tds or not,

& while filling the return you have to aggerate your total salary (i.e of both the company & the result will be your tax paid or refundable as per the condition)

1 Like

manikandan.J (Accounts Manager) (363 Points)
Replied 22 April 2010

you are required to furnished Form 16 to along with IT Return both companies Form 16 it is better for you no need for the consolidated Form 16

1 Like

CA Pankaj Warke (Fin Man) (268 Points)
Replied 22 April 2010

Dear Nithy,

YOu have stated that the Second company that you have worked with has not deducted the tax.

In fact it was your prime duty to give the details of income and TDS from the First company to the second company.

Now you need not have a consolidated Form 16 but need to aggregate the Income from both the companies and calculate the Tax Liability thereon and Pay the tax after claiming TDS deducted, if any, by the First Company alongwith interest if the same exceeded the advance Tax limits.

1 Like

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 22 April 2010

Originally posted by : CA Pankaj Warke
	Dear Nithy, YOu have stated that the Second company that you have worked with has not deducted the tax. In fact it was your prime duty to give the details of income and TDS from the First company to the second company. Now you need not have a consolidated Form 16 but need to aggregate the Income from both the companies and calculate the Tax Liability thereon and Pay the tax after claiming TDS deducted, if any, by the First Company alongwith interest if the same exceeded the advance Tax limits.

agreed

1 Like

CMA RV Padmakumar.A (Practicing CMA and Registered Valuer (S&FA) ) (1440 Points)
Replied 22 April 2010

nithy two form 16 are usual ..no need to consolidate into one form 16.You can file your returns with two form 16 s

1 Like

Ritesh Jain (CA, CS in Job) (675 Points)
Replied 22 April 2010

Dear,

There are two catch here:

1) Firstly, you should have provided the previous salary earning to the next employer. If you have not done that and because of that the next employer has not deducted the TDS due to absense of information. In this case you have to pay self assessment tax at the time of filing of ITR.

2) No one can give a consolidated Form 16 to you because there is different TAN no. for different companies and if you have not rendered the service in any particular period how can that company give you Form 16 for that. You can easily file your return with two form 16.

Thanx :)

1 Like

Mahendra Joglekar (Accountant) (22 Points)
Replied 25 April 2010

Dear, As you had mentioned that the in Second Compnay you have minimum slab, so take a nil form 16 from the second company. from first compny you have to take the form 16 in which the income is taxable ans supposing that the company is dedcuted the TDS.

Just calculate the aggregate income and file your return

Thanks

1 Like

Deepak Chandra (Web Developer) (21 Points)
Replied 16 July 2011

Hi,

I joined my previous company in 1 Dec, 2009. my salary was 18000 and they deducted 1800(10%) TDS from salary. in FY 2009-10 i have paid total 7200 TDS(4 month) and i left that company in 30 june, 10. so FY 2010-11 i have paid 5400 total TDS (3 month). now i have FORM 16A (previous company) and FORM 16 (current company). how can i fill tax return online. could you please tell me can i fill my previous year (FY 2009-10) tax return online. i have FORM 16A for FY 2009-10.

Many Many thanks