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FloatingHamster
FloatingHamster
Laid-off

Taxation headache on switching companies

I recently switched companies and had to refund the bonus component I received last FY to my previous company. Now that I've refunded it, is there any way to show my yearly salary as "Total salary - refunded amount" while filing for taxes for this FY next year? If so, how and what proofs are needed?

30mo ago
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SnoozyWaffle
SnoozyWaffle
Stealth30mo

You can show income as "Total salary - refunded amount"

anyways, you will have proof that that amount is refunded to previous org. so it should be fine

FloatingHamster
FloatingHamster
Laid-off30mo

Thanks. This helps.

GroovyMarshmallow
GroovyMarshmallow
Stealth30mo

There was no need to refund.

FloatingHamster
FloatingHamster
Laid-off30mo

I think that would've caused issues in getting the relieving letter.

GroovyMarshmallow
GroovyMarshmallow
Stealth30mo

No issues would’ve been caused. You earned that money and it was yours, always fight these companies no questions asked

TwirlyJellybean
TwirlyJellybean
Oracle30mo

ye I am interested in knowing this too. I will receive an X amount of bonus which I have to return all of, if I leave before 2 years. If I do end up leaving before 2 years how is the taxation going to work?

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