Whether it is mandatory to submit any release letter while joining?

Hi, i am currently in the final year of my engg. and i have got job offer from monnet ispat ltd.. i have worked with a non banking financial company as an agent on part time basis for few months in my 3rd year of engg. I want to know whether it is mandatory to submit any release letter while joining for my case??

Are you still working with the finance company?
Any pending issues which can crop up subsequently?
Take a letter of clearance from them and keep it in your private records.
Have you told your prospective employer about your part time work?
I dont think there is a need to submit anything to your new company unless as i said you have declared it inyour CV or there are pending issues.
All the best in your new job.

i have already taken a letter of clearance from them. the issue is the company has charged TDS on the payments made by them to me which will be reflected in my annual financial statement issued by the income tax dept. i want to know is that going to create a problem for me in future??

You will need to file an IT return to declare your income.
Form 26 AS will show how much TDS has been deducted and now you can work out whether you have to pay more tax or get a refund through filing of IT return.

Thank you Nathrao for replying to Manish, the information shared was useful. When new employees join our company I can post these questions to them to check their complete clearance from their previous company.

Many recruiters look for key words in CV and list out candidates for potential calls and interviews.
Most candidates are equally aware of these key points and incorporate these key words.
The worth and suitability of candidate can be found out only during skilled interview,entry level screening tests.
Aspects like part time jobs done cannot easily be found out,unless we check in interaction with candidate.
Checklist of points to check with each candidate should be framed in advance to get full picture of candidate and to assess suitability in your organisation.