Dear friends
When I joined a company in 2021 i was given a joining bonus of 1 lakh after deducting TDS which was reflected in my form 16 back then.
In 2022 i left the company, so the company asked me to pay them back the bonus which i did by transferring the amount to their bank account.
This refund is not shown in form 16 of 2022.
My question is
I paid tax on bonus in 2021 which i have returned in 2022, am i entitled to any benefit in 2022.
can i reduce my income of 2022 by 1 lakh for the bonus which i returned.
what about the tax on bonus i paid which i never really benefited from as i had to return it back.
please advice
kindly support your reply with relevant section, rule, circular, judgement etc.
thanks
CAclubindia
