Ramakant (name changed) switched his job during the year. He served his earlier employer for nine m…
Ramakant (name changed) switched his job during the year.
He served his earlier employer for nine months and his current employer for three months.
His earlier employer deducted TDS, but his current employer didn't. His new employer says that he hasn't deducted TDS as his salary wasn't taxable. How is it possible, as his current salary is more than twice the earlier one?
In any case, Ramakant has applied for a loan, and he needs form 16 from both the employers. His new employer has denied issuing form 16 as his salary is not taxable. How can he ask his new employer to release form 16?
As Ramamkant has worked for three months only with the current employer, so there are chances that the salary that he received from the current employer is less than the maximum non-taxable amount.
Ramakant can follow any of these two ways to get form 16 from his new employer:
1. He should submit form 12B with the new employer. And then request them to add salary from the previous employer to compute his tax liability.
2. He should request his new employer to include his name in the TDS form 24Q that the employer submits to Income tax department. If the employer includes his name, then it can easily issue form 16 to him.
