Hi,
I have joined with the previous employer in December 2008 received an amount as Joining Bonus, this amout is paid to me after deducting the relavent tax. However I left the orgnasation in May'08 and they recoverd the full amount of Joining bonus as agreed. There was no tax deduction from that company during 2008-2009 and my total taxable eanrings for the FY 2008-2009 was a negative amount (Rs.100000/-). Now the previosus employer is not ready to issue a from 16 stating the taxable income is nil, hence cannot issue form 16.
Could some one clarify whether the statment from the previous employer is correct, Why I can get the tax benefit for the negative taxable salary, which was taxed to me during 2007-2008. What is income tax rules on the above concern.
From India, Bangalore
4I have joined with the previous employer in December 2008 received an amount as Joining Bonus, this amout is paid to me after deducting the relavent tax. However I left the orgnasation in May'08 and they recoverd the full amount of Joining bonus as agreed. There was no tax deduction from that company during 2008-2009 and my total taxable eanrings for the FY 2008-2009 was a negative amount (Rs.100000/-). Now the previosus employer is not ready to issue a from 16 stating the taxable income is nil, hence cannot issue form 16.
Could some one clarify whether the statment from the previous employer is correct, Why I can get the tax benefit for the negative taxable salary, which was taxed to me during 2007-2008. What is income tax rules on the above concern.
From India, Bangalore
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