If you have changed many jobs then you can have multiple Form-16. Since there are different Form-16, their Part A will account for the TAN of different companies and the TDS deducted on its basis. All these have to be added.
If you have changed many jobs throughout the year and are going to file itr income tax return file, then you should take information about the rules related to TDS. You should know that there will be many forms-16 from which the work of ITR filing will have to be done by taking data and information. Suppose you have changed jobs in three institutes in a year, then you will have three Form-16s. ITR will have to be filed on the basis of these three forms only. In this, some nuances of tax calculation should be understood.
Form-16 is available only to salaried or salaried people. Its format is already decided by the Income Tax Department. This form is the same for all companies. Companies have to fill the figures of their employees in this. This form consists of two sections Part A and Part B. Part A contains information about the tax deducted by the government. It is deducted as TDS. Part B refers to the income that the taxpayer makes in a year. It contains information about salary, bonus, tax saving investment, HRA, deduction etc. ITR has to be filed by combining these two.
If many jobs have changed then there will be many Form-16
If you have changed many jobs then you can have multiple Form-16. Since there are different Form-16, their Part A will account for the TAN of different companies and the TDS deducted on its basis. Every company deducts TDS accordingly. Therefore, the deduction of TDS in different Form-16 will be different. In such a situation, there is a rule to add TDS. That is, all the companies which have deducted TDS in a financial year, add all those TDS together. From this it will be known that how much TDS has been deducted in a year.
Calculate Part A and Party B
Now look at Part B of Form-16 separately on this basis. Your income will have been calculated in all Form-16 and shown in Part B. This income will be in the form of salary and bonus. In this total tax investment, HRA exemption etc. will be accounted for. On the basis of this, you can calculate how much income is earned during the year and how much tax liability is made on it.
Now file ITR after adding TDS from Part A of all Form-16 and computing income and tax exemption from Part B of all Form-16. With this, your entire year will be accounted for together and there will be no difference in ITR filing. If you are filling ITR from any CA or accountant, then he will have to give all the Form-16 which you have taken from different institutions.
Match Form 26AS
Now if you want, you can also match the information given in Part A of Form-16 to see if there is any difference in it. For this you can download Form 26AS from the website of TRACES. In this form, all types of information will be found together, which different companies have deducted in the form of TDS or TCS. If the information you have collected on different Form-16 TDS does not match with Form 26AS, then you should be careful. In such a situation, Form 26AS should be considered as correct and its information should be given in the ITR return.
If you are facing difficulty in this process, then it is best to take the help of a CA, Tax Lawyer or Accountant. They will easily calculate the tax and file your ITR through separate Form-16. For this you will have to spend some money but the work will be done comfortably. The chances of them making a mistake will also be less. This will also save your time.
