Dear Sir,
Whether amount paid to previous employer (private sector) in lieu of not serving the notice period after resignation is tax deductible expense? If yes, under what section? I joined the new organisation, next working day.
Thanks.
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Income tax exemption
Replies (1)
Hi Anil,
this is a typical situation but quite common in todays scenario.Unfortunately tax is chargeable based on the income shown as per the Form-16 and there is no other expenses are deductible in case of salary income .Ultimately the whole salary gets taxed though not received
Any other view is welcome
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