Form 12B

Form 12B is an income tax form that needs to be submitted according to Rule 26A by an individual joining a new organization or company in the middle of a financial year. The main objective of the form is to furnish details of the income earned by the individual from the previous organization. Every new employee has to submit Form 12B to their new employer. Form 12B is applicable to salaried individuals only and that too only if they have switched jobs in the middle of the financial year.