Tax on Notice Pay Reimbursemnet
This query is : Resolved
01 January 2009
My company has deducted tax on notice pay that I had to pay to my previous employer. Kindly advise whether such tax is to be borne by the employer or the empoyee.And under which section such tax has been deducted.
Regards
Amitabh
Regards
Amitabh
CA Tilak Raj Sharma
(Expert)
02 January 2009
That amount is fully taxable in your hands. And you need to bear the tax liability.
O.D.SHARMA
(Expert)
03 January 2009
Salary paid to u for reiumbersement of Ex employer is taxed correctly by present employer.U /S 192 this is for current employer to deduct.If u feel it's over/Excess get this adjusted by providing deduction/Exemption claims & compution Other wise in return claim this,
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