Dear Sir,
I joined a new co. on 17Jan2011. is it compulsory for me to provide Form16 to my new employer, or the company can calculate my income tax liability from 17jan2011to 31mar2011, at their end.
Looking for your reply. Regards, Pankaj
1 Answers
Its not mandatory to provide previous company's Form 16 to new employer. Most of the times its not even possible even as most the companies issue Form-16 in May-June.
Rather than providing form 16, you may declare your income from previous employer to new one. If same if not done, you will have to compute income tax and pay it yourself, before year ends.
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