Income tax on Notice pay
This query is : Open
29 January 2010
Dear All
Can we deduct the amount towards Shortage in Notice pay in calculation of Income tax.
Notice Pay
the Notice period is 1 month but the employee relives in 10 days. Company Dedcuted the 20 days salary as Notice period pay
Can we deduct the amount towards Shortage in Notice pay in calculation of Income tax.
Notice Pay
the Notice period is 1 month but the employee relives in 10 days. Company Dedcuted the 20 days salary as Notice period pay
29 January 2010
There is no provision in income tax for that. Salary is taxable on due or paid whichever is ealier basis.
So salary is due but deducted as notice pay will not effect. so taxable.
So salary is due but deducted as notice pay will not effect. so taxable.
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