Regarding TDS For Current Financial Year 2016-17

ucanmeet
I worked for a company for 2 years, till August 2016 and from September 2016 I am working for another employer, so how would TDS by my current employer be deducted. I want to know the period of calculation for TDS and from which month TDS starts deducted.
Labour Law Index
See TDS under Section 192 B of Income Tax is deducted in the following way :-
1) Your entire early tax is determined.
2) Employer divide this by 12. Then deduct each month this portion. so that your entire tax is deducted over the year.
On change of employment, you new employer will take all this detail and calculate tax for entire year taking into consideration the salary from old employer and new one. Then he will deduct the tax already deducted. The balance will be divided by remaining months of financial year. Then he will deduct it each month in the remaining year.
You need to provide him all details. Also you need to give them your form 26AS from income tax site. This form contain details of your TDS already deducted. See this site below for more.
ucanmeet
Thank you Labour law index for your time and information. Do I need to request any file/form from my previous employer?
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute