Shift Allowance and Recovery of Bonus

Hemant (AM - IA/SOX) (78 Points)

11 January 2011  

Dear Collegues,

I am having following two componets in my Salary Package.

a) Shift Allowance

b) Recovery Of Bonus

In above a, is there any provision which can be allow me to take exemption while calculating taxable income. Secondly, Due to switch over of job, my previuous organisation has recovered bonus paid to me while doing full and final settlement. Does this recovery is allowed as deduction while calculating taxable salary???? My Current employer has not reimburs bonus recovery to me.

 

Please share your view.

 

Thanks
Hemant