Dear,
Greetings of the day.
Please help in the below issue.
Employer offered 15Lakh Salary upon a 2 years bond, if he did not serve the job for 2 years and break the bond he have to refund 4Laks rupees to employer.
Due to some reasons he left the job and paid back to employer 4 Lakhs. The TDS is deducted on 15Lakhs.
Employee asked his employer to mention 4Lakhs in FORM16 but employer denied and saying "deduction for not serving the agreed tenure, these deductions will not fall under tax exemptions".
As employee already paid TDS on total 15 Lakhs now is it possible to take tax advantage on that 4Lakh recovered amount?
Please help
Thanks
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