Hi Guys,
I wanted to seek your advice on the taxation of Severance package in India. I work for an American MNC and as a part of transition to Managed Services, company is offering a severance package to employees who are impacted; where a flat 30% is deducted from the Severance Pay as tax.
As this involves a loss of employment to employees; I just wanted to understand, is their a way to recover the 30% tax deducted amount from the Income tax department ?
Any suggestions in this matter would be greatly appreciated. Also, if there are any individuals/agencies who can help us with this process, please share the contact details to have further discussion.
Regards,
Prashanth
I wanted to seek your advice on the taxation of Severance package in India. I work for an American MNC and as a part of transition to Managed Services, company is offering a severance package to employees who are impacted; where a flat 30% is deducted from the Severance Pay as tax.
As this involves a loss of employment to employees; I just wanted to understand, is their a way to recover the 30% tax deducted amount from the Income tax department ?
Any suggestions in this matter would be greatly appreciated. Also, if there are any individuals/agencies who can help us with this process, please share the contact details to have further discussion.
Regards,
Prashanth