Form 16 is a TDS certificate issued by employer to the employee for the financial year with the details of tax deducted, tax deposited, Challan number, date of deposit, PAN of the employee and employer. Every employer at the time of payment of salaries to employee has to compulsorily deduct TDS at the average rate computed on the basis of estimated income of the employee. … [Read more...] about Requirements of Form 16 and 12BA in Income Tax
More than one form 16 received during the financial year
Salary received from more than one employer – Multiple form16
During the financial year, an assessee can be employed simultaneously under more than one employer or can change the employment during the financial year. In both cases, employee can furnish details of salary due or received by him to either of the employer of his choice. Such company after getting employee’s salary details has to compulsorily deduct TDS after considering … [Read more...] about Salary received from more than one employer – Multiple form16