Income Tax Return: Dealing With Two Form-16s - What You Need To Know
As the deadline for filing your Income Tax Return ( ITR ) approaches on July 31, 2024, it’s crucial to be prepared. Filing an ITR is typically straightforward for salaried individuals because they receive Form-16 from their employer, which details their salary and tax deductions . However, what should you do if you receive two different Form-16s? Here’s a guide to help you navigate this situation.
Why Might You Receive Two Form-16s ?
Form-16 is a document issued by your employer that outlines your salary and the taxes deducted from it. If you have worked for two different employers within the same financial year , each employer will issue a Form-16. This means you will have two Form-16s for that year.
More Form-16s for Multiple Jobs
If you’ve changed jobs multiple times within a year, you will receive a Form-16 from each employer. For instance, if you switched jobs three times in one financial year, you would receive three Form-16s, one from each company.
Why Might You Receive Two Form-16s ?
Form-16 is a document issued by your employer that outlines your salary and the taxes deducted from it. If you have worked for two different employers within the same financial year , each employer will issue a Form-16. This means you will have two Form-16s for that year.
More Form-16s for Multiple Jobs
If you’ve changed jobs multiple times within a year, you will receive a Form-16 from each employer. For instance, if you switched jobs three times in one financial year, you would receive three Form-16s, one from each company.
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