Legal Question in Employment Law in India

Hi,
I am Aditya an MBA from IIM-Ahmedabad. I joined my company in june 2008. At the time time of joining I was given a joining bonus of 1 lakh rupees (with a clause that if i leave within 18 months- it will be recovered). I left the company after 16 months. I have the following queries
- I got the amount ( in FY 2008-09) after deduction of tax i.e. 1 lakh minus tax on the same. Now if it is recovered do I have to give the full 1 lakh rupees? If yes, can I claim the tax paid back in the FY 2009-10. Will be it adjusted against my gross income of this year.
- Similar case with notice period shortfall. Company is charging the shortfall to me. Will this amount be also adjusted against my gross income of the year?
Please let me know- 9535045726
Thanks
Aditya

Asked on 11/08/09, 4:13 am

Seshadri Srinivasan www.lawconcern.com

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0 attorneys agreed

You have to pay back the full Rs 1 lakh. Other things I will advice you shortly on your mobile phone.

warm regards

Answered on 11/08/09, 6:36 am

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