Income tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2014
I HAVE RECEIVED SALARY FOR THE WHOLE F.Y. 2013-14 AND TDS WAS ALSO DEDUCTED.IN THE F.Y 2014-15, I RESIGNED FROM THE COMPANY IN JULY 2014 AFTER RETURNING THEM ALL THE SALARY EARNED IN THE F.Y 2013-14 & 2014-15.I WANT TO KNOW THAT WHETHER I HAVE TO FILE MY IT RETURN FOR THE F.Y: 2013-14 SHOWING THE SALARY, WHICH IS RETURNED TO THE COMPANY IN F.Y: 2014-15??
15 November 2014
Salary once earned is taxable.
You have not mentioned the reason for returning the money back to the company. If incase you have returned the money back to the company since they have given you extra money erroneously then it is not taxable as Salary .
However you have mentioned that you have returned back the entire money, which can be because of varied reasons eg. you had signed a bond and did not complete your term with the company, or as per the contract of the company, you have committed any mistake wherein you need to return back the money in which case you will very much have to file your Income Tax Return if your Taxable income exceeds the Basic exemption limit
You have not mentioned the reason for returning the money back to the company. If incase you have returned the money back to the company since they have given you extra money erroneously then it is not taxable as Salary .
However you have mentioned that you have returned back the entire money, which can be because of varied reasons eg. you had signed a bond and did not complete your term with the company, or as per the contract of the company, you have committed any mistake wherein you need to return back the money in which case you will very much have to file your Income Tax Return if your Taxable income exceeds the Basic exemption limit
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2014
The reason of returning is bond actually . It means I can not also show the returned money in the IT return.
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
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- LIC maturity claim whether taxable
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- FCRA 6 E- Intimation
- EXPORT COMMERCIAL INVOICE HSN CODE
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
