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Reimb. of Notice Pay Recovery

This query is : Resolved 
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(Querist)
05 December 2008 While leaving the present employer, amount towards short notice has been deducted by my present employer. Should this amount to be reduced from my taxable income?
Secondly, if this amount either in full or in part reimbursed by my new employer, then should it be considered taxable by my new employer?
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CA. Mahesh Agarwal

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CA. Mahesh Agarwal (Expert)
05 December 2008 yes it should be deducted
and then reimbursement should be added to taxable income
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K V Subba Rao

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K V Subba Rao (Expert)
05 December 2008 Deduction of Notice Pay by your present employer being in the nature of application of your income by you does not qualify for Deduction or Exemption.

When it comes to receipt or reimbursement by your new employer is taxable as part of your salary
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
05 December 2008 Seems Rao's answer is correct.
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