Hi,
I have joined with the previous employer in December 2008 received an amount as Joining Bonus, this amout is paid to me after deducting the relavent tax. However I left the orgnasation in May'08 and they recoverd the full amount of Joining bonus as agreed. There was no tax deduction from that company during 2008-2009 and my total taxable eanrings for the FY 2008-2009 was a negative amount (Rs.100000/-). Now the previosus employer is not ready to issue a from 16 stating the taxable income is nil, hence cannot issue form 16.
Could some one clarify whether the statment from the previous employer is correct, Why I can get the tax benefit for the negative taxable salary, which was taxed to me during 2007-2008. What is income tax rules on the above concern.
I have joined with the previous employer in December 2008 received an amount as Joining Bonus, this amout is paid to me after deducting the relavent tax. However I left the orgnasation in May'08 and they recoverd the full amount of Joining bonus as agreed. There was no tax deduction from that company during 2008-2009 and my total taxable eanrings for the FY 2008-2009 was a negative amount (Rs.100000/-). Now the previosus employer is not ready to issue a from 16 stating the taxable income is nil, hence cannot issue form 16.
Could some one clarify whether the statment from the previous employer is correct, Why I can get the tax benefit for the negative taxable salary, which was taxed to me during 2007-2008. What is income tax rules on the above concern.