Vikas Jain (IT) 23 August 2019
I have a query regarding taxability of onsite income which is related to previous financial year.
Here is the brief summary, In FY 2018-19 there was salary recovery for extra overseas salary paid to me. The recovery was done in May 2018 by generating a payslip of Dec 2017 as below
Gross Income : X
Salary Recovery : Y
Net Salary : X-Y, which is negative
So basically, I have to payback Y amount to my company in May 2018 as part of salary Recovery and the same has been included in my taxable income.
My residential status was NRI in 2017-18.
Can I claim this onsite taxable portion as salary in FY 2017-18 and claim tax relief under it?
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Vikas Jain (IT) 24 August 2019
In form 16, recovery amount is mentioned as onsite taxable income. I was just thinking that this is related to salary/income of FY 2017-18, I can mention this amount for FY 2017-18 and claim rebate u/s 89(1). Will that be right?