Hi Pankaj, My previous employer paid me Joining bonus in the month of Aug-12 and I left organization in the month of June-13 after repaying Joining bonus.Previous employer is refusing to modify Form 16 for reduction in taxable income. Please let me know whether I should file reduced taxable income for FY12-13 or FY13-14. Regards, Amit asked Jul 27 '13 at 11:52 by Amit4u 1●1●1 |
Payment due to shortfall in serving company policies is an expense and deduction is not available for it. Its a penalty imposed by the employer for not serving bond. In Income tax no exemption or deduction is allowed for penalty. answered Jul 27 '13 at 21:37 by Pankaj Batra 5.2k●3●20 |