What is the taxability of Notice pay, if an employee leaves the job and notice pay has been recovered from him? Net receipts after recovery only taxable at the time of settlement ? Whether the employee gets the notice pay reimbursed from the new employer, is not relevent.
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Notice pay
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Net amount paid by your company is taxable at your end.If other company reiumberse this to employee ,This will be employee & other company liability to deduct TDs on that amount.
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