TDS on bond to employee
This query is : Resolved
28 December 2021
Company give Rs.1,40,000, after deducted Rs.60,000 as TDS, to employee on condition that not to leave company in next 2 years.
What will the tax treatment of Rs.60,000 when employee leave job & give back to Rs.2,00,000 to company?
What will the tax treatment of Rs.60,000 when employee leave job & give back to Rs.2,00,000 to company?
28 December 2021
If Job left in same FY, the TDS is also gets reversible.
Otherwise The salary gets taxable and the TDS amount is consumed during filing of the relevant ITR.
Otherwise The salary gets taxable and the TDS amount is consumed during filing of the relevant ITR.
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28 December 2021
ok, what will tax treatment in case no tax liability raise (ie. no new job join) in next year, and amount need pay to company?
How can get tax back?
How can get tax back?
28 December 2021
Refer::: https://www.in.kpmg.com/taxflashnews/KPMG-Flash-News-Nandinho-Rebello-3.pdf
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28 December 2021
Or ... https://www.taxcorner.co.in/2020/01/recovery-of-notice-pay-for-notice-period-is-deductible-and-not-taxable-itat.html
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28 December 2021
thank you very much sir for clarity.
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28 December 2021
Most Welcome..
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