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Treatment of notice pay

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 March 2013 Can Notice payment deducted from the total taxable salary while calculating tax. Notice which has been deducted in lieu of notice period short served. can we reduce notice pay from total salary payable.
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Santosh Mishra

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Santosh Mishra (Expert)
07 March 2013 Notice period recovery is a penalty in nature and should not be adjusted with taxable salary of an emoloyes.

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