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Salary

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(Querist)
28 November 2012 I have resigned from service of the Bank on 09.09.2012 and started my own CA practice.

I have to pay Rs. 50000/- for shortfall of notice period to the Bank and Bank has recovered Rs. 50000/- from P.F. and Gratuity payable to me.

During Current f.y. 2012-13, I have received of Rs. 5,12,000/-as salary .i.e. up to 09.09.2012.

Can I Claim Rs. 50000/- as deduction from Salary of Rs. 5,12,000/-.
If eligible for deduction,under what section. this is for deduction of TDS from salary.
Please reply urgently.
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CA. Subhash Dangi

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CA. Subhash Dangi (Expert)
28 November 2012 It is depending upon the treatment of Recovery of Notice period by your Employer.
If the employer includes by deducting the same in Form 16. no question of TDS due to this.
Better to request your employer to include in Form- 16 for TDS purpose.

Refer following link for more clarity with case laws.
https://www.caclubindia.com/experts/notice-period-recovery-by-employer-and-form-16-treatment-426420.asp#.ULW1FeRtiik
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