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How to get the TDS back from last financial year

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Bhaskar Reddy

25 Points Posted on 06 August 2022

Dear forum,

My company paid one lakh bonus in last year May as one time lock in bonus. Since I have left them before the lock in period, they asked us to pay back the one lakh in full. But we received the amount after the company deducted TDS. How to reclaim the TDS as we are paying back the one lakh in full to the company this August. I have already filed the TDR for last financial year.

Thanks.

Replies (6)

Quick Summary

If you've repaid a bonus to your company from which TDS was already deducted, and you've already filed your tax return for that financial year, you may be able to reclaim the TDS. The advice suggests paying the company only the net amount after TDS and having the company revise their TDS return to claim the refund. This ensures your accounts are balanced and you don't incur a personal loss.

CA Aakarsh Jain

4330 Points Posted on 06 August 2022

You can't take back that.

Bhaskar Reddy

25 Points Posted on 06 August 2022

Thanks Aakarsh for your reply. I have one more question.

Where will that money go? The company will get its one lakh back. IT department has the 30K. Once I pay the company one lakh back, I will be in loss. Is there no need for all the books to be clean?