Why Does My New Company Need Form 16 or a Taxable Salary Statement? Help!

Hello sir,

I have recently joined a new company. They are asking me to produce either a Form 16 or a taxable salary statement. Why are they asking for that? Does the taxable salary statement require an income tax department stamp? I am not sure if my previous employer used to give any Form 16 to me or not. Can a new taxable salary statement be produced for the assessment year 2006-07? I left my company last year on 30th April, so should I give the taxable salary statement for this assessment year? If I am unable to produce any of these documents, will my new company terminate my services? I have just received an offer letter from them. My previous company was a private limited and a very small company with an employee strength of less than 20. I am in deep concern...please help!

Dear Mr. Ankur,

It is true that the new company has requested Form No. 16 as per the company's requirements. This is because, based on your resume and the salary structure mentioned in it, they must cross-check with Form 16. Typically, many candidates show their salary from the previous company as higher than what they actually received. Therefore, this verification is necessary. Additionally, it is crucial to calculate the tax liability on your salary.

If you need any clarification, please feel free to contact me.

Basudeva Choudhury
New Delhi
Mobile No. 09718390567