How can an employee update their previous income details?

When an employee joins an organization midway through the financial year, they have the option to declare their income from their previous employer in their tax declarations. This allows the current employer to consider those salary amounts when calculating the annual net tax amount the employee needs to pay. As per Section 192, employees may furnish their salary details from their previous employer to their current organization using Form 12B.

Failing to disclose your previous salary income to your current employer results in underpayment of taxes. The current organization will only consider your present salary income for tax calculation, ignoring or considering previous salary income as zero.

This document explains how to update the details of your previous income on the portal for accurate calculation of TDS on salary. 

Log in to the Keka portal and click on the My Finances (1) tab. Under Manage Tax (2), you will find the tab Previous Income (3). Now just find the month you want to add or edit the details of and click on the edit icon (4) to fill out the applicable fields.  

Once you click edit, you will be able to fill in the required data in the active fields. After ensuring that all the fields are filled correctly, click on Save (1) for each month separately.  

After filling out information about the required months and saving them, click on Save (2). 

These are only filled by employees who joined the organization in the middle of the financial year and whose tax is high.

We hope that this document helps. If you have more questions, please refer to the other articles. Alternatively, you can talk to our product experts as well.