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During financial year 2010-11, I have changed company (Company1 April-10 to June-10, Company2 July-10 to March-11). I have informed related to salary and TDS of company1 to company2. I am not sure if company2 has calculated TDS on basis of whole year income or not!! Kindly advise if I need to contact a Charted Accountant before March-11 to make consolidated rough estimated of total income and pay renaming tax if required? Or Should I wait for Form 16 (provided by both companies in April-11) and then pay renaming tax (will I need to pay fine if tax be paid in April-11)? asked Feb 16 '11 at 17:25 by destinysandeep 1●1●1●1 Please advise, Form 16 that will be provided by company 2 should include whole FY10-11 income or they may give it only for period of July-to-March?
Also, if company 1 is giving form 16 for April-to-June and company 2 giving for July-to-March, then do I have to get a consolidated form 16 from CA to file refund's?
Many thanks for reply and time.
(Feb 18 '11 at 10:56)
destinysandeep
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You won't need a charted accountant to calculate income tax. In order to save interest payment on pending income tax payment, make sure you pay taxes before 31st March, 2011. A company can only issue form-16 for payments and TDS deducted by it for period in which you worked with them. So this financial year, you will have two form-16s (April-June and July-March). You will have to consolidate them while filing return. answered Feb 17 '11 at 06:02 by Pankaj Batra 5.2k●3●20 |