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.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177886 Points)
Replied 27 December 2022
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.
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
