Salary query
This query is : Open
Quick Summary
urvesh panchal
(Querist)
14 August 2020
Tax treatment of bond amount paid by employer to employee My client paid bond amount to employer Rs 300000 now he want to claim such Rs 300000 as deduction from salary can he do so if yes please send me judgement and also mention legal case of the same so I can understand properly
CA KARAN SINGH
(Expert)
15 August 2020
There is no deduction available under the Income Tax Act.
The only thing he can do is, ask their employer to show less salary paid in Form 16 by Rs. 300000. So that TDS will not be deducted on Rs. 300000
The only thing he can do is, ask their employer to show less salary paid in Form 16 by Rs. 300000. So that TDS will not be deducted on Rs. 300000
Bhavin Shah
(Expert)
15 August 2020
No such deduction available under the law... Better option is to adjust the amt at soirce and show adjusted salary in form 16
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