Salary surrendered in lieu of notice period
Nawal Kishore Malhotra (3 Points)
16 July 2018Please advise as to how the surrendered amount will be treated in current financial year 2018-19 (AY 2019-20).
TDS on surrendered amount being the salary for the months of Jan to Mar 2018 was deducted in previous FY 2017-18 .
Since its a financial loss in current financial year 2018-19 and TDS was paid on the amount in previous financial year, which was actually not accrued or surrendered subsequently. Please quote relevant instructions with section/sub section of IT Act under which the subject matter will be treated.
Nawal Kishore
email - nawal.malhotra @ gmail.com