Taxation for Lose in salary.

Hi

I would like to know solution in following situation.

My company sent me to outside of India for deputation. My contract is as follow

1)      Company will not give me X amount of money (INR) from my salary.

2)      Company will give me Y amount of USD as NRI (Non Taxable).

3)      I have to pay Z amount of money (INR) to company, if I leave my company with in specific duration after I re-joined the company.

If I leave company without finishing time duration and if I pay Z amount of money to my company. Can I compensate that loss with my Indian salary or other income for that year and next year?

Replies (5)

 

Income tax on salary is payable on amount you earned during the period you can not claim this type of loss in your ITR with you income…

Can i force to my company add that loss in my Form 16 So i can have some relif in tax for that year.

you can not... you have to tax wat you earned....

You cannot claim that loss against your salary

its penlaty for non compliance of terms, and penalty is nowhere deductible.

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