I received 1 lakh rupees from my previous employer in april 2022 under special incentive head in salary slip. The 1 lakh amount is part of the retention bonus which needs to be paid back to the company. I have in total returned 2 lakh rupees in fy 2022 23. 1 lakh was paid in the previous financial year 2021 22 and also reflected in respective form 16.
Employer says the paid back amount is not removed from form 16. 1 lakh rupees which was received in april 2022 is returned in the same financial year i.e. 2022 23.
Can I reduce the total taxable amount while filing the return?
CAclubindia
