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How to file income tax return when you have multiple Form 16?

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Published on Jul 13, 2012

http://taxmantra.com/ - Learn how to file income tax return when you have worked in more than one employer in a financial year. Form16 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 July 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?
Read More - http://taxmantra.com/ereturns/it-retu...

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