Form 16 for new joiners in the financial year

Ask the Community Income Tax
1

Hi,

For employees who are employed with more than one employer in a financial year how are the details to be shown in Form 16?

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2

Hi @Anisha

You will only be able to issue Form 16 from the time he/she has joined your Org.

From the previous org. they might be getting one more too. But at the time of onboarding, you need to ensure the proper TDS calculation happens for the FY.

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It gives a detailed summary of the salary paid to the employee and the TDS deducted. Form 16 contains the information you need to prepare and file your income tax return.

Employee will get Form 16 from both (all) the employers for the days he worked during Financial year and employee will have to file the combined returns.

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@Anisha

Employer is responsible to calculate and deduct taxes for the time the employee is working in their organization and they can show that in the Form 16.

If the employee is joining in between the FY then the new Employer’s responsibility is to collect the Previous employment income and calculate the taxes accordingly. However in the Form 16 they have to show only the taxes deducted from their side.

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