POSTED BY May 30, 2013 2:47 pm ONE COMMENTON
I joined a company on 2011(october) and when i joined they paid me joining bonus of 1 Lakh. In that year it was added to my taxable income and i had paid tax for the same.
In 2012(september) i left them, since i left them before a year i have to repay the joining bonus and they gave me receipt for the same in HR letter with the DD number through which i repaid the joining bonus.
Now in form 16 they dont want to show that i had repaid. I am not sure why. If i can show this in my return i can reduce my tax by reducing my earnable income.
Please let me know if i can reducing the total income by 1 lakh since i repaid(i have proof for the same) and file my return. please let me know the steps also.
Thanks in Advance