Income from salaries - Loss of pay for notice period

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SRIDHAR JALLURI (Querist)
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16 March 2008 Dear Memebers,

If an employee leaves the job by not serving the full notice period then salary equivalent to shortage of notice period will be recovered from the employees salary. Will this amount be deducted from the total salary paid by the employer in the Form 16 sent to employee. Can an employee show this amount recovered by employer as deduction from salary income in the return to be filed with Income tax department.

Reagrds,
Sridhar J

Jitender

Jitender (Expert)
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16 March 2008 no, only net salary will be shown in form-16 & i return & not as deduction

Jitender

Jitender (Expert)
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16 March 2008 no, only net salary will be shown in form-16 & i return & not as deduction

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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17 March 2008 Only showing of Net salary will hold good

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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17 March 2008 Only salary actually received shall be shown in Form 16

CA J M Pattanayak

CA J M Pattanayak (Expert)
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19 March 2008 Gross Salary net off deductions is taxable in the hand of employee.

Deduction of salary for shortage of notice period is a penalty imposed by the employer which cant be deducted from salary for calculation of Tax.

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Income from salaries - Loss of pay for notice period

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