Dear Sir, Bonus of Rs 2.5lakh recd in 21-22 recovered in 22-23 by employer for resignation in bond period. Recovery not shown in form16, instead a certificate issued saying "....2.5L recovered & income of 22-23 will be reduced by that amount."
How the return can be filled to get refund of excess tax deducted.
Hi Tapan
One such case was filed with the Income-tax appealte tribunal - S.S.N. Ravi, Chennai vs Assessee on 6th May 2016 I.T.A. No. 933/Mds/2015 for A.Y 2008-09.
Key Takeaways from this case:
Sign-on bonus refunded to the previous employer can not be reduced from taxable salary.
Refund for TDS deducted by the previous employer at the time of returning the sign-on bonus can not be claimed.
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