Bonus payback tax refund

133 views 1 replies

Hi,
I was paid a bonus amount of Rs.1,40,000 by my company in Jan'17, out of which 30%(Rs.42,000) was deducted as TDS. Since I left the company within a year of receiving the bonus, I had to return the entire pre-tax bonus amount of Rs.1,40,000. In this FY, however, I only worked for 3 months due to which my salary is below the taxable limit, so deducting the 1,40,000 from my gross income doesn't make any difference to the taxes I have to pay(which is 0). Is there any way that I can claim back the Rs.42,000 I paid in taxes last year, since I returned that entire amount this year? Can I file a revised return for last year to get that amount refunded?
Request you to advise me on this.
Thanks!

Replies (1)

You may revise, but check Form 26AS, for any update of amount returned back. Otherwise it will not help.


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