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TMI BlogDeduction - notice pay salaryX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether Notice pay salary Recovered by employer shall be allowed as deduction for employee, while computing his income under the head salary? - Reply By Surender Gupta - The Reply = Notice pay sala ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry may be considered as deduction of salary by the employer. It is the form 16 issued by the employer which helps to decide that it is deduction from the salary to compensation paid to employer. But, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is no separate provision to reduce the notice period salary from the salary shown in form 16 by the employee from his tasable income. - Reply By A RAVINDRA - The Reply = No. It can not be ded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucted from salary income either in form 16 or in ITR filed by the assessee. The notice period salary recoverd from employee by employer is in the nature of penalty for voilation of contractual oblig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation. Hence the said recovery can not be deducted from the income of employee in his return. - Deduction - notice pay salary - Query Started By: - vikas girdhar Dated:- 26-12-2008 Income Tax - Got ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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