File Income Tax Return Even If You Are Having Multiple Form16

File Income Tax Return Even If You Are Having Multiple Form16Form16 is a certificate issued by an employer to an employee who provides details in respect of salary earned by the employee and tax deducted at source by the employer. It’s a TDS certificate issued by the employer to the employee in Form16 and if the employer has not deducted any tax at source, it is not necessary to issue Form16.

Every salaried individual are in a rush to file their Income Tax Return as the month of June has commenced. One must be aware of the fact that 31st July is the last date for filing Income Tax Return for Individuals and also Form16 is a mandatory requirement in respect of filing return.

An employee can have multiple Form16 in any of the following two situations:

  • Has changed his job during the same financial year.
  • Is working with multiple employers simultaneously.

Eligibility to file ITR -1/ Sahaj: The following categories of persons are eligible to file Income Tax Return through ITR- 1/ Sahaj –

  • Individuals with salaried or pension income
  • Income earned from house property
  • Income from other sources including FDs interest rate and excluding speculation income
  • Where income of spouse or minor is clubbed with assesse

How to file return through multiple Form16?

1.  If the employee has changed his job during the same financial year – If any individuals change his current job to another one, he must furnish details in respect of all Form16s at the time of filing Income Tax Return. Also the employee can either declare the details of past Form16 to the current employee or if he doesn’t want to disclose his income to the present employer then he can mention the consolidated income of all the Form16 at the time of filing IT return.

2.  Is working with multiple employers simultaneously – If an employee is working with multiple employers at a time he/ she needs to file all the Form16 he has at the time of filing return. In this context, a consolidated Form16 is inappropriate as because every employer has different TAN numbers. Every employee is thus required to file all the separate Form16 he holds. Thus at the time of filing return the total aggregate salary of both the company shall be considered and tax will be paid simultaneously and refund will be provided as required.

In order to avoid mistake in respect of TAN No., PAN No, address details or any other relevant information are required at the time of filing return, one must review Form16 with awareness and fill the required details.

Income tax return filing has started, please click here to visit our income tax return filing page.

 

6 thoughts on “File Income Tax Return Even If You Are Having Multiple Form16”

  1. Thanks for article. In my case, I changed my job during the financial year and provided the previous salary/tax details to my current employer. Now, the Form 16 from my current employer includes the income from my previous employer clubbed. I am confused whether I should file my tax with the Form 16 of my current employer only or whether I should declare both the Form 16s and deduct the previous salary/tax from the current Form 16. Obviously, in both the cases the numbers remain the same. I need help to understand which is the right way to file the tax.

    1. Dear Anirban, if you have disclosed to your current employer, then you should file your taxes based on the consolidated F 16 issues by your current employer. However, do check once, if your current employer has incorporated all in the consolidated F16.

      1. hey
        I was working like a contract employee for 6 month and for that i have form 16A and after that i have form 16 while working in a permanent role
        while in contract i can claim considerable tax by making PL statement
        so in this care which form i need to fill , may i get the benifits of working as a contract employee

  2. Sreeraj,

    Yes, you can claim expenses aganist the contract (form 16A) under ITR4 and take form 16 (salary income), and file return accordingly.

    You can file the ITR upto 31st august 2012 for FY 2011-12.

    You can call us at – +919230033070 OR mail us – info@taxmantra.com

    Alok Patnia
    Founder & CEO at taxmantra.com

  3. Hi Alok,

    I worked till mid of March’12 with one company and the rest of March with another company, hence I’ve got 2 form 16s. The second employer didn’t deduct any tax for the month of March as my income didn’t qualify and the first employer deducted tax as per the my salary bracket.
    Since the PAN/TAN of both the employers are different, should I just add the income from the second employer (16th – 31 Mar’12) to the form 16 details provided by the first employer. Is there any other way to do it.
    PS: I’m eligible for some refund.
    kindly suggest.

    Thanks,
    Ram

    1. Dear Ram K,

      You need to consolidated the incomes, exemptions, and taxes paid by way of consolidated tax computation. We can do it for you for just Rs .250. Just submit the details mentioned in this link –
      http://taxmantra.com/ereturns/efile

      You can file the ITR upto 31st august 2012 for FY 2011-12.

      You can call us at – +919230033070 OR mail us – info@taxmantra.com

      Alok Patnia
      Founder & CEO at taxmantra.com
      Reply

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