Dear Sirs,
I was going through the Income Tax Ready Reckoner of V. G. Mehta - A.Y - 2008 - -09 (70th year of Publication) On page No 91 under the head - Salaries - Deduction of Tax at source from Salaries - the author has Mentioned in the second para that: Quote: It may be noted that under Section 192, the tax on salary is to be deducted at the rates applicable to the estimated salary for the entire relevant financial year and where an employee has during that year worked under more than one employer, then in order to facilitate proper deduction of tax at source from the aggregate salary due or received in the same year, the employee may furnish in the prescribed form no. 12 B, to one of the said employer as he may choose, details of the salary due or received from such other employer or employers during that year and also the tax deducted there from. Unquote. If you have the above ready reckoner, you may go through the entire page where the procedure is outlined and is self explanatory. Regards Neville -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Cyrus Sent: Friday, June 19, 2009 1:50 AM To: Skorydov MyTaxAssistant Member Group Subject: Re: Form 16 Query You are supposed to consolidate and work out the tax for the entire year. BUT You are supposed to issue a Form 16 only for your company. The Form 16 is a certificate of tax deducted by the employer ... you have no right to certify on behalf of another company.Your Form 16 will only show tax paid for the period that the employee was with you. The employee will be required to consolidate his 2 form 16 ( one from the previous company and one from your company) while filing his return Cyrus On Jun 18, 3:08 am, Kiran Takke <[email protected]> wrote: > Hi Friends.. > > Could anyone please advise me on below.. > > If an employee joining in middle of the year................submitting > salary proof from his earlier employer.............. > > Accordingly we will deduct the tax for the entire year.............as per > Income tax slab etc. > > Does it means we are supposed to issue certificate (Form 16) for entire year > (income from previous employer + current employer) > > & if yes.................. > > then please provide me the format of the same ....& also let me know how the > details...how to present it in form 16 annexure. > > Thanks & Regards, > Kiran Takke. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
