Income tax refund on returned part of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2017
I received a sum of money (5 lakhs) from my company as a joining bonus during the 2016-17 Financial Year, on the condition that if I leave the company in less than three years, I have to return it. I had to pay tax on this amount as if it were a part of the rest of my income in the Financial Year ending March 2017. I am leaving the company in July 2017 and will be returning this amount. Can I get a refund of the tax I paid on the bonus, by highlighting this while filing my income tax return? What documents do I need apart from Form 16?
Amol S Joglekar
(Expert)
03 July 2017
No, you will NOT get any deduction for the same UNLESS your employer shows the same in form 16.....as recovery of salary
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
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
