How to E-file ITR with Multiple Form 16s Online?

Filing tax return for multiple Form 16s is a tedious process. Such a scenario arises when an individual has changed multiple jobs in the year. However, with ClearTax this is made easy. ClearTax allows taxpayers to upload and file ITR with multiple Form 16s. 

Here is your guide to filing your taxes with multiple Form 16s.

What Is Multiple Form 16s?

Ravi worked for ABCD Inc. from April 1 to July 31 2023, and then switched to XYZ Pvt. Ltd., where he continues to work for the rest of the financial year until March 31,2024

Ravi will be required to use multiple Form 16 given by two employers to file the returns for the fiscal year 2023-2024.

You can also check out our detailed live demo video on filing ITR-1, which will assist you in completing your income sources and tax savings section. 

What is in Form 16 – Part A?

Form 16 – Part A includes details of the TAN of the employer, TDS deducted etc. A sample for the same is given below,

If your company was acquired or merged mid-year, you’ll see different TAN numbers in both the Part As. You should also keep in mind that collect all the Form 16s from all your previous employers. 

What is in Form 16 – Part B?

In Form 16 Part-B, you’ll see details of your income and all the deductions under sections 80C to 80U given on your total income.

Why e-File ITR with Multiple Form 16s?- 2 Common Cases

The employer issues Form 16 to the employee, reflecting the earnings made in one financial year. However, there are a few conditions where it becomes mandated to file multiple Forms 16:-

• When a person has switched jobs in the same financial year.
• When a person is working simultaneously with more than 1 employer.

Key Takeaways

• Use Form 12B to inform the new employer about the previous salary. It makes your life easy while filing multiple forms 16.
• Combine the value under “salary under section 17(1)” to find the gross salary.
• In the case of no Form 16, the previous employer breaks down the salary slip to arrive at the final taxable income.Steps to follow to File ITR with Multiple Form 16s

Steps to Follow to File ITR with Multiple Form 16s

Step 1: Log in to your ClearTax account, and click on get started.

Step 2: Linking your PAN will help us file your return with the income tax department. So enter your PAN, Date of Birth, and the OTP received on your registered mobile number. 

 Now, for us to pre-fill the details for you, you will have to complete another OTP verification. 

Once you enter the OTP and click on ‘Proceed’, you will see 95% of your information, like your name and income details, will all be auto-filled.

You can review and edit these details if required. After reviewing the auto-filled details, click ‘Upload Form-16’. 

Step 3: Now, upload the first Form 16 and click ‘Proceed’.

Click on ‘Upload another Form-16’ to upload to the second Form-16. In this manner, you can upload not just two but multiple Form-16s. 

Once you upload your Form-16s, you can see the summary.

Step 4: Next, review your personal info, fill out your income sources and tax savings, and view the tax summary. You can also upload one or more Form 16 under the income sources tab.

Step 5: Now click on ‘File Now’. Add your coupon code and make the payment.  

Step 6: Now, click on the ‘e-verify now’ button. E-verifying your return is important for completing the ITR filing process. You can e-verify your returns instantly on the Cleartax portal.

Step 7: Once you complete the e-verification process, you are done with your ITR filing! But before you leave, don’t forget to collect these exciting rewards, cashback offers and discounts. You have more than 50+ brands to choose from.

And there, you have successfully filed your return in the shortest time possible.

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