My Query is, If I refund my Retention Bonus received in Dec 2022 on March 2023 i.e. in Same FY , earned and payback, Then Is it taxable as Salary in FY 2022-2023?
Or Net Amount after reducing above bonus is Taxable as Salary.
TIA.
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Retention Bonus
Replies (1)
When refunded back in same financial year, it is not taxable, but employer should credit the amount under salary as refunded back.
The taxability will be on net taxable salary, as per form 26AS.... which requires employer's correct reporting.
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