Hello all,
Last month I received my Performance Pay or Bonus from my company for 2011-12. However, out of the bonus amount I was supposed to get, I got only 85% of it - remaining 15% has been taken as tax.
Now, can I claim the full 15% tax refund - if I invest the same in Mutual Fund / PPF / or any Section 80C tax savings scheme? If not, then how much of bonus tax am I allowed to claim as per the law?
Regards
Last month I received my Performance Pay or Bonus from my company for 2011-12. However, out of the bonus amount I was supposed to get, I got only 85% of it - remaining 15% has been taken as tax.
Now, can I claim the full 15% tax refund - if I invest the same in Mutual Fund / PPF / or any Section 80C tax savings scheme? If not, then how much of bonus tax am I allowed to claim as per the law?
Regards