Can loss in salary considered for exemption in IT

Forums Exemptions Can loss in salary considered for exemption in IT

Can loss in salary considered for exemption in IT

Can loss in salary i.e. debit raised and deducted from salary

Profile photo of Raveendra Ingle Asked By: Raveendra 1 replies 0 helpful answers Last Updated: 4 months, 1 week ago
  • Profile photo of Raveendra IngleRaveendra
    Participant

    Can loss in salary i.e. debit raised and deducted from salary

  • Profile photo of Madhuri N MarneMadhuri N Marne
    Moderator

    Generally salary can not be negative as such possibility of loss under the head of salary. But in few exceptional cases viz. Notice  pay or Joining bonus reversal. Though there is no specific  provision of the act which allows deduction for this kind of losses but few tax judicial authorities has upheld its deductibility.

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