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Can employee claim deduction under the head of salary ?

Tax queries 444 views 6 replies

Can employee can claim deduction under the head of "Income from Salary" for " payment made by employee to Employer for not serving Notice period as per HR policy on resignation ?????

 

DETAILS:-

1) FY: 2015-16

2) D.O.Resignation : 15th May 2015

3) Salary from 01 Apr 15 to 15th May 15 =29,325/-

4) other (bonus + annual payment) received by employee on resignation = 17,719/-

5) payment made by employee to employer for not serving 45 days notice period after submitting resignation letter on 10th may 2015 (discontinued from 16th May 2015):- 34,245/-

6) from 16th May 2015 employee joined new organisation (still working) & earn salary income of rs. 3,47,883/-

 

Q1 :-  Can employee can claim deduction of Rs.34245/- under head 'income from Salary" while calculating income tax ? 

Q2 :- If No, than why not?

 

Replies (6)

No. You cant claim

yes I also wanna know why...? please explain it...

notice deduction is penalty and it can not be claimed as deduction, 

however if your employer has mentioned the same in form 16, then you may get eligible 

No u can't claim deduction as there is no prov regarding this in it act. However if ur employer issue Form 16 mentioning the salary after deduction then u can show the same in ur IT return

Agreed with Ms Rashmi

I AGREE WITH MR. U S SHARMA.

 


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