Hi,
Recently my company gave me extra bonus in order to try to retain me, however there was a clause attached to it that in case I choose to leave the organisation prior to a particular date the bonus amount paid to me will be recovered from me.
My question is that in case I decide to move out before the specified date I will have to pay back the bonus amount to the company, but what about the tax treatment on the bonus amount. When I got the bonus TDS was deducted by the company on that amount, Now when I have to pay back the amount am i liable to pay the total amount paid by the company?
What will happen to the TDS that was deducted and deposited to the Govt ?
Thanks,
Amit Sood
From India, Mumbai
1Recently my company gave me extra bonus in order to try to retain me, however there was a clause attached to it that in case I choose to leave the organisation prior to a particular date the bonus amount paid to me will be recovered from me.
My question is that in case I decide to move out before the specified date I will have to pay back the bonus amount to the company, but what about the tax treatment on the bonus amount. When I got the bonus TDS was deducted by the company on that amount, Now when I have to pay back the amount am i liable to pay the total amount paid by the company?
What will happen to the TDS that was deducted and deposited to the Govt ?
Thanks,
Amit Sood
From India, Mumbai