Compensation Paid by Employee
This query is : Resolved
20 November 2008
A EMployee is paid bonus of Rs.2 Lakhs in the month of Septmber 2008. The bonus paid is with a condition that if the employee leaves company before 1 year i.e. before say 30.11.2009 then he will have to return the bonus amount.
Suppose employee leaves the company before one year then whether this compensation paid will can be claimed as deduction from Salary income or else otherwise how to claim this as deduction?
Suppose employee leaves the company before one year then whether this compensation paid will can be claimed as deduction from Salary income or else otherwise how to claim this as deduction?
K V Subba Rao
(Expert)
20 November 2008
The same treatment as given to Notice Pay has to be given treating repayment as application of salary income.
O.D.SHARMA
(Expert)
22 November 2008
Payment of 200,000 will be taxable in the hands of Employee.Same when this is deducted at the time of F & F settlement only net payment will be taxable,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
