Tax on salary not received
This query is : Resolved
28 September 2020
An assessee being a director of a listed Company, had received salary more than the limit as per Companies Act, 2013 pending Central Government approval and paid tax on the same appropriately in AY 2014-15 and AY 2015-16. Subsequently, as the Central Government approval could not be procured, the assessee had repaid excess salary to the Company. However, TDS on the higher salary was deducted by the Company and the entire excess salary received, was paid back by the assessee to the Company. What is the recourse available to the assessee to claim Income tax refund now as tax was paid on income which is returned back by the assessee ? Can a revised return or any grievance petition be filed online ?
Thanks in advance.
Thanks in advance.
28 September 2020
When the excess salary paid back.
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