05 December 2008
While leaving the present employer, amount towards short notice has been deducted by my present employer. Should this amount to be reduced from my taxable income? Secondly, if this amount either in full or in part reimbursed by my new employer, then should it be considered taxable by my new employer?
05 December 2008
Deduction of Notice Pay by your present employer being in the nature of application of your income by you does not qualify for Deduction or Exemption.
When it comes to receipt or reimbursement by your new employer is taxable as part of your salary
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