Have you switched your job in FY 2015-16? If yes, don’t forget about the tax implications that can arise due to more than one employer/Form 16. In case you fail to disclose your income from all the employers while filing returns, you may get a notice from the Income Tax Department. This will not only result in paying the tax shortfalls, but also interest at the rate of 1% or 2% … [Read more...] about 7 Tax Mistakes to Avoid if You Have Switched Jobs Last Year
Form 16 is basically a detailed statement of salary paid and tax deducted for an individual in a year. It is issued by the employer and contains information like TAN and PAN of the employer which might not be readily available with you. If it is Form 16 that you have been awaiting till now for filing your returns, then there is a good news for you - you do not have to depend on … [Read more...] about No Form 16? You Can Still File Your Return!