For the FY 2024-2025 Gross Salary of Rs.15,00,000/- has been received and liable TDS deducted from Salary. Due to wrong calculation an amount of Rs.2,00,00/- extra amount has been given in the Salary (Actual Salary 13,00,000/-) . In present finacial year employer informed about recovery of Extra given Rs.2,00,000/-. What will be tax treatment for this. As i already paid tax on 15,00,000/-.
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Tax Liability for recovered Salary
Replies (3)
Get it adjusted against current year salary. Refund for extra paid salary in FY 24-25 wouls not be available.
Employer informed that, recovery will be done like other deductions like personal loan deduction, epf deduction etc,. How can I get tax exemption for this year.
As time to file revised return is over, no other option except employer deducts it from the current salary.
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