Suppose, Mr. A is working with XYZ Ltd in Mumbai.XYZ Ltd since last. has a Scheme that any permanent emplyoee who has completed his 5 years job in XYZ Ltd will be eligible for Housing Loan Interest subsidy,.The same will be paid monthly basis and the employee who has availed the benefit of the scheme is required to work in XYZ Ltd. ,for the period of 5 years from the date of availment of the benefit of the Scheme.If the employee lefts his job before completion of 5 years the entire subsidy availed will have to be returmed to XYZ Ltd.Mr. A has availed the benefit of the Scheme.XYZ Ltd. was paying theamount of subsidy every month to Mr. A and deducted applicable TDS on the amount of subsidy.Mr. A left the job before completing the stipulated period of 5 years and XYZ Ltd. recovered the entire subsidy paid from Mr. A from his full and final settelment.
Now the question is:
1) Can Mr. A cliam for refund of TDS paid on the subsidy as he is return to he employer the entire subsidy availa by him till his resignation? if yes
2) under which section of the Income Tax the same will be claimed? and how the same will be claimed.
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