Received 2 from 16 how to file itr:
Received Form 16 from from more than 1 employer.
#form16
When an employee has more than one Form 16, then tax computation should be made after considering every Form 16document. As an employee one must prepare a revised statement of income and revised tax liability to make sure that the tax is calculated as per the correct slab. Archit Gupta, Founder & CEO ClearTax.com explains how to consolidate the figures when one has more than one Form 16.
First, consolidate salary earned from all the employers for the financial year. This can be done by adding the values shown in the head 'Salary under section 17(1)' of the Form 16.
Secondly, deduct the value of exempt allowances and perquisites for e.g. House Rent Allowance (HRA), travel allowance etc. It may be possible that since you have not submitted the proof of rent receipts to the employer, so he may not have given you HRA exemption. But an employee can claim this while fi ling the return.
Thirdly, claim the deductions allowed under section 80C, 80D, 80G etc. There may be a possibility that same deductions is allowed by all the employers in Form 16. But keep in mind that benefit of deductions can be taken only once against your total income.
How to fi le ITR if you have more than one Form 16
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