The CBDT has changed the format of Income Tax Form 16 Part B for the Financial Year 2018-19 since the 12 May 2019. This Format is more explore the employee’s Salary Details.
Tuesday, 1 October 2019
Monday, 30 September 2019
Wednesday, 25 September 2019
Under
the Income Tax Act, 1961, income is chargeable to tax under five heads,
one of the major heads being income under the head 'salary’. Your tax
return with respect to your incomes should be filed timely with all
documents and fulfillment of other requirement so you are entitled to all reliefs, refunds, and deductions.
Tuesday, 24 September 2019
People
often change their jobs for various reasons. If you have switched your job in the middle of the financial year, you will have to provide details of your previous salary earned along with tax deductions to the new employer through Form 12B. When you submit your Form 12B, your the current employer can deduct the correct amount of TDS or Tax Deducted at
Source from your salary. Every new employee has to submit Form 12B to
their new employer along with proofs of all the investments made before
31st March.
Monday, 23 September 2019
Form
12B is required when you switch your job in the middle of the financial the year with respect to details of income earned from the previous company
and tax deducted at source on such income if any. The reason is that
you joined in the middle of a financial year, there has to be a
correction made in terms of consolidated income earned and submission of
Form 16 from both the employers is a must.
Sunday, 22 September 2019
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