  This article focuses on the fluctuations of linear eigenvalue statistics of
$T_{n\times p}T'_{n\times p}$, where $T_{n\times p}$ is an $n\times p$ Toeplitz
matrix with real, complex or time-dependent entries. We show that as $n
\rightarrow \infty$ and $p/n \rightarrow \lambda \in (0, \infty)$, the linear
eigenvalue statistics of these matrices for polynomial test functions converge
in distribution to Gaussian random variables. We also discuss the linear
eigenvalue statistics of $H_{n\times p}H'_{n\times p}$, when $H_{n\times p}$ is
an $n\times p$ Hankel matrix. As a result of our studies, we also derive
in-probability limit and a central limit theorem type result for Schettan norm
of rectangular Toeplitz matrices. To establish the results, we use method of
moments.
