If you have changed jobs during the financial year 2025-26 or worked in two different companies in the same year, then you need to be extra careful while filing Income Tax Return (ITR). Tax experts say that such employees should show their total income by adding the salaries received from both the companies. Failure to do so may result in a notice from the Income Tax Department and delay in tax refund.
According to experts, many times employees assume that both the companies have deducted TDS, so they do not need any additional calculations. But in reality both the employers calculate TDS only on the basis of the salary paid by them. In such a situation, there may be a difference between the tax payable on the total income and the TDS deducted.
According to tax expert Pranab Sai S, employees working in two companies should claim tax exemptions and deductions like HRA, Section 80C, Section 80D and Standard Deduction only once in the entire year. Many employees unknowingly avail the same deduction through both companies, which can lead to tax implications later.
He told that while filing ITR, first the total salary received from both the companies should be added and only then all the deductions should be calculated.
Experts say that before filing ITR, Form 16, Salary Slip, Form 26AS, Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) of both the companies must be matched. Apart from this, documents related to investment, HRA, home loan interest and other income should also be kept ready.
If the salary shown in Form 16 does not match the information entered in AIS or Form 26AS, first understand the difference and make necessary corrections. Filing returns based on incorrect or incomplete information can increase problems.
The Income Tax Department now scrutinizes the returns closely with the help of data analytics and digital records. If the salary shown in ITR is less than recorded in Form 16 or Form 26AS, there is difference in TDS credit or deductions are double claimed, the department may consider it a red flag.
Experts say that employees changing jobs should submit Form 12B while joining the new company. With this, the new company gets information about the salary and TDS of the previous job and correct tax deduction is possible.
According to experts, the best way is to correctly match the salary, TDS and other income of both the companies before filing ITR. This can avoid problems like tax notices, additional tax payments and delays in refunds. A little caution for employees changing jobs can save them from big problems in the future.
