Liable to repay joining bonus

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 October 2011  I will get a joining bonus of Rs 50 000.(so 1 yr in service is a must)

1. Is there any TDS on Rs 50k?

Presumed TDS is there:
 For e.g. I will get Rs 35k (TDS Rs15k)on joining

2. If I quit before 1 yr, shall I liable to repay Rs 50k or Rs35k to my employer?

Thanks

CA Prashant Shrivastava

CA Prashant Shrivastava (Expert)
Follow

12 October 2011 Yes, Rs. 50,000/- joining bonus is liable for TDS subject to your total income form that employer or any other income reported (including the salary income of your previous employer) by you to the employer.
If you leave the job for any reason then repayment of joining bonus is purely depends on the term of your employment. There is no role of Income Tax deptt.,however the TDS deducted by the employer can be claimed by you while filing the income tax return.