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Income Tax liability on net of Notice period deduction
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....ncome Tax liability on net of Notice period deduction<br> Query (Issue) Started By: - Pradeep Jain Dated:- 30-3-2013 Last Reply Date:- 30-3-2013 Income Tax<br>Got 1 Reply<br>Income Tax<br>Sir, We hav....
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....e deducted Notice period amount from the employee who had not given the notice before leaving the company. Now we wish to know that Income tax would be deducted on his taxable salary or after deducti....
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....ng the notice period amount from his salary. Early action is highly appreciated. Best Regards Pradeep Jain Reply By CS Swati Dodhi: The Reply: Supreme Court in the case of Commissioner Of Income-....
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....Tax, West Bengal II Versus Kalyanji Mavji And Co. [1980 (1) TMI 87 - SUPREME COURT] held that notice pay is taxable in the year of receipt. Yes tax will be deducted after deducting notice pay.<br> D....
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