Panelty in internal enquiry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 January 2012
SIR,
WHERE EMPLOYER HAS IMPOSED PANELITY OF SAY RS. 1.00 LAC TO BE RECOVERABLE IN 10 EQUAL INSTALMENTS FROM SALARY OF THE EMPLOYEE, NOW CAN EMPLOYEE GET IT EXEMPTION FOR SUCH DEDUCTION FROM THE SALARY OF THE EMPLOYEE. IF YES IN WHICH SECTION IT IS ALLOWED. PLEASE GUIDE
WHERE EMPLOYER HAS IMPOSED PANELITY OF SAY RS. 1.00 LAC TO BE RECOVERABLE IN 10 EQUAL INSTALMENTS FROM SALARY OF THE EMPLOYEE, NOW CAN EMPLOYEE GET IT EXEMPTION FOR SUCH DEDUCTION FROM THE SALARY OF THE EMPLOYEE. IF YES IN WHICH SECTION IT IS ALLOWED. PLEASE GUIDE
CA PARAS BAFNA
(Expert)
15 January 2012
IN CASE, ONLY SALARY RECEIVED BY THE EMPLOYEE IS MENTIONED IN THE FORM 16, THE DEDUCTION AN BE DEEMED AS IF CLAIMED, HOWEVER IF FORM 16 SHOWS FULL SALARY AND OUT OF IT , WHETHER PENALTY DEDUCTIONS ARE SHOWN OR NOT SHOWN, FULL SALARY BECOMES TAXABLE.
.
IN THIS CASE THE EMPLOYER MAY BE REQUESTED TO SHOW THE NET SALARY ONLY IN FORM 16, AS IT WILL NOT AFFECT HIS EXPENDITURE CLAIM.
.
IN THIS CASE THE EMPLOYER MAY BE REQUESTED TO SHOW THE NET SALARY ONLY IN FORM 16, AS IT WILL NOT AFFECT HIS EXPENDITURE CLAIM.
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