I have some query regarding Income Tax implication on the below said case;
If an employee signs a bond with the Co. and after a some period employee wants to resign the job. In the bond there is one condition stated that employee should reimburse the remaining period salary to the Co., whether that reimbursed salary is taxable to the Co.? and while calculating TDS on salary what is impact of that amount?
For eg. Service Period is 12 months, resignation after 9 months, so employee has to pay 3 months salary to the Co. For calculating TDS what amount of salary (how many months) is to be considered?
21 February 2013
completly agree with CA Suraj. as no exp is allowed for salary. So 3 month salary will not be adjusted. he need to pay tax on 9 month salary
CAclubindia
