FAQs on Form 12B in India - Change of Employment
- What is Form 12B?
Form 12B is a document that contains information about the income and tax deducted from the previous employer. It is mandatory for employees who have changed their jobs during the financial year to submit Form 12B to their new employer.
- What is the time limit for submitting Form 12B?
Form 12B should be submitted to the new employer within 15 days of joining the new organization.
- To whom and by when should Form 12B be submitted?
Form 12B is required to be submitted by the employee after joining the new organization during the middle of the financial year. Form 12B needs to be submitted to the new employer. Submitting Form 12B helps the employer to know your previous employment details and calculate the correct amount of TDS for the rest of the financial year.
- What happens after the Submission of Form 12B?
After submission of Form 12B employer may provide Form 16 depending on the details provided by the employee in Form 12B.
- Can a new organization deny deducting TDS on the previous salary?
The employer abides by the law and must deduct the TDS from the consolidated income after the submission of Form 12B by the employee.
