Plz help me out

699 views 4 replies

Hi,

I resigned from a company where I had been working for last 11 months. Due to the service agreement I had to pay Rs.2.5 lacs as bond amount where my actual in hand salary from the company during the the period was alomost equal to this amount.

Now, My question is whether I can show it as exp. in my Income tax return of this year or else I have to pay tax on the amount which has been refunded by me to company. If I can show it as exp. then tell me the procedure.

Please help me out as big amount is involved.

 

Replies (4)

Gaurav,

There is no express provision by way of which you can claim the amount refunded to the company as deduction. True its really pitiable to pay tax on the gross salary in cases like that of yours

 yaaaaaaaa

there is no provision in act to get deduction on this type of expenditures........

there is no provision as per which you can claim deduction. hence you have to pay tax on the amount received

Yes every one is right

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