I’ve modified job this 12 months. My second employer didn’t deduct tax. What to do?

My daughter has labored with two firms within the present monetary 12 months. My first employer didn’t deduct any tax and the current employer has additionally not deducted any tax to date. What ought to she do now?

Umang Mehta

Answer: Tax legal responsibility of an individual is decided on the premise of the combination earnings earned throughout the 12 months from all of the sources taken collectively. When your daughter joined the second firm, she ought to have knowledgeable the brand new employer about wage acquired by her from the primary employer. Your daughter can nonetheless declare wage acquired by her from the primary employer in Form 12B to the current employer and request the second employer to take into the wage acquired from the primary employer whereas computing tax legal responsibility for the entire 12 months. The current employer will then deduct acceptable quantity of tax on mixture of taxable wage from each the employers.

If she fails to intimate the second employer about her earlier wage, she should pay curiosity whereas submitting her return in case her complete earnings is taxable. This is very possible as each the employers would have given her the good thing about primary exemption of Rs. 2.5 lakh in addition to for varied deduction obtainable like Section 80C, 80D and many others. In case the current employer refuses to simply accept the paperwork now because the 12 months is sort of over, you possibly can work out the combination tax legal responsibility after considering wage from each the employers and varied deductions obtainable and pay the tax by means of advance tax. Though the final due date for fee of advance tax of fifteenth March is already over, you possibly can nonetheless pay it by thirty first March as any tax paid by thirty first March is handled as advance tax. Please observe that she doesn’t must pay advance tax in case the combination tax legal responsibility doesn’t exceed ₹10,000 and through which case the tax will be paid on the time of submitting the ITR.

Balwant Jain is a tax and funding knowledgeable

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