In today's time, it has become common for people to change jobs for career growth and to get more salary. While changing jobs in the same financial year gives new opportunities, it is also very important to keep some things in mind while filing Income Tax Return (ITR). If you are changing jobs this year or thinking of changing, then definitely understand these 5 important things related to tax so that there is no hassle later.

1. Do not forget to take Form 16 from every employer
If you work in more than one company in a financial year, then you must take Form 16 from every company. Form 16 contains your salary, tax deduction, and other details that are useful while filing an ITR. Part A of Form 16 contains information about tax deducted at source and Part B contains the complete salary breakup.

2. Avoid claiming the same deduction twice
While changing jobs, many people mistakenly claim the deduction of the same investment like EPF, PPF, or medical insurance twice. This can cause problems in tax filing. Therefore, add all the deductions correctly and claim them only once.

3. Declare tax for gratuity and leave encashment correctly
If you have worked in a company for more than five years and you leave the job, you can get a gratuity. Gratuity up to Rs 20 lakh is tax-free. Apart from this, there is also a taxation rule for leave encashment. It is important to declare all these incomes correctly while filing an ITR.

4. Check Form 26AS thoroughly
Form 26AS contains complete details of the TDS deducted from your salary. This shows how much tax has already been deducted. While filing ITR, do check this form so that there is no mistake in claiming tax credit.

5. Report income correctly by combining old and new salary

Many times people report the salary of the new job, but forget the income of the old job. By doing this, the tax department may see a mismatch in your income, due to which a notice may come. Therefore, it is important to report the total income by combining the salary received from both the old and new jobs.

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