Returning JB with tax
I have resigned before completing a year . I need to repay JB. When i received ,the tax was deducted. But now Walmart wants me to repay them along with the tax .How do I apply for tax rebate ? #resignation #joiningbonus # sde # walmart TC : 30L YOE : 3
what proof wud be needed ? Will pay slip bé enough ?
Final Form 16 will have all this details.
DM me. I had same situation with walmart.
Where you joining OP?
not decided yet
Why did you leave Walmart so early? What is your team and work?
very bad management ☹️
Could you please tell me in detail? I am about to get an offer from Walmart. Want to make sure I am making the right choice.
Sorry to inform you but you can't claim any IT returns or exemptions. As far as IT dept is concerned Walmart paid you for your services and you paid taxes. It doesn't matter to them whether you repay to Walmart or not, that's not their problem. https://cleartax.in/s/sign-on-bonus-refunded-employer-cannot-reduced-taxable-salary-case-law
Although what OnCf16 says is true. You can change your income in income tax and deduct the extra tax you paid. Basically reduce the JB from your income. Now mostly for salaries employees your return does not go in scrutiny and will pass. But if you have high TC and it goes in scrutiny it might be asked. Then you can explain but again the law interprétion isn’t too clear. So you might need to pay extra taxes. Dont take my word for Tax advice not a CA but this is what has been my experience.
Seems reasonable but they migt still ask you to pay if scrunity happens. Otherwise you are good
Bt in final settlement , it will be displayed that JB was returned. So that shud help right ?
In your return filing. Wallmart has paid you in full.