For successful computation of Income Tax and Form 16 generation, the Previous Employer Income and Tax payment details are necessary for the Employees who joined the organization in the middle of the year.
To specify the Previous Employer's Income/Exemption and Tax Deduction details,
Go to Gateway of Tally > Payroll Info. > Income Tax Details > Previous Employer Details
To enter the previous employer Income/Exemption Details,
Go to Gateway of Tally > Payroll Info. > Income Tax Details > Previous Employer Details > Income/Exemption Details
Select the required Employee from the List of Employees and press Enter
Specify the required Pay Component in the Particulars field
Specify the start date in the Effective From field
Specify the value in the Income Amount field
Specify the value in the Exemption Amount field
Press Enter to Accept and save
To enter the details of the Tax Deducted/Paid by the Previous Employer,
Go to Gateway of Tally > Payroll Info. > Income Tax Details > Previous Employer Details > Tax Deducted/Paid Details
Select the required Employee from the List of Employees and press Enter
Specify the Previous Employer and Tax payment details as shown:
Press Enter to Accept and save