...I resigned from my previous company 1 month earlier and as settlement for shortage of notice per…
...I resigned from my previous company 1 month earlier and as settlement for shortage of notice period, paid 1 month of my salary without any TDS. This amount as promised by my new employer, would be reimbursed. Now I have 2 questions: 1. Am I supposed to pay Income tax on the reimbursement (1 month notice period payout)? If yes, what is the taxation rate? My new employer is cutting almost 30-40% 2. Since I paid the previous company full amount and got only the amount after TDS, can I claim loss of income? Or is there any other way to get that money back? Since I paid extra?
