Business Standard

Have Form 16 from two employers? Be careful not to claim tax benefits twice

A mistake in calculating tax liability could lead to a notice from the tax department

Application form, agreement, firms

If you have any tax liability, pay it first and then file the return. Photo: Shutterstock

Bindisha Sarang Mumbai
If you switched jobs in 2021-22, you will get two Form 16s — one from the current employer, another from the previous one. Filing income-tax return (ITR) with two Form 16s can be confusing at best.  

Form 16 comprises two parts — A and B. Part A has taxpayer and employer details, service period, tax deducted, etc. Part B contains detailed computation of tax, as calculated by the employer.

Suresh Surana, founder, RSM India, says, “The computation provides details of salary income, including allowances and exemptions, other incomes, deductions, and tax payable.”

Collect all forms

The first step to filing

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First Published: Jun 29 2022 | 5:22 PM IST

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