Retention Bonus Taxability

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This discussion explores the tax implications of a retention bonus paid in FY 2020-21 and subsequently recovered in FY 2021-22 due to unmet conditions. It seeks advice on whether the employee can claim a deduction for the recovered amount under the Income Tax Act.

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
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12 July 2022 Retention Bonus paid to employee in the financial year 2020-21 and recovered back from full & final settlement in financial year 2021-22 as the condition of not leaving the company for one year was not met. Can the amount recovered back be claimed as deduction by employee!
Request for an advice in terms of the position under Income Tax Act!

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RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
Follow

13 July 2022 Request advice in terms of the position under Income Tax Act!

RAJEEV KUMAR MEHTA

RAJEEV KUMAR MEHTA (Querist)
Follow

13 July 2022 Request advice in terms of the position under Income Tax Act!