Money refunded from employer Rs. 7.5 lakhs

Hi,

No, This money in not taxable. You don't need to show it in your ITR.

Maintain all the proofs. It will help you in case you receive inquiry from tax department. Just check that this money of 7.5 lacs is not mentioned in your form16 as well.

Dear Sir,

No need to mention amount of Rs.7.50 lacs received from the employer as it is a refund of security deposit with the employer. It is not an income. Ensure no interest was paid to you on this amount by the employer. Also check your Form 16 of F.Y. 2017-18 for such amount.

Maintain all records for future purpose.

Thanks

Hi

Such payment is not taxable under the Income tax act. This is merely a reimbursement.

Nothing needs to be mentioned in ITR.

Yes, it is easiy justifiable. Also, there are rare chances of scrutiny.

Hi,

This amount is not taxable and you need not disclose this in your ITR. However keep all the proofs with you in case any query comes from the deparrment.

Regards,

Nikhil

Hi Sir,

Hope you are doing well !

1.This amount is not taxable.

2.You don't need to mention this amount in your return.

3. First, there is very low chance of getting income tax notice for this. If you get any notice in future, it will be easily justified

4.Just keep all your documents.

Thanks & Regards,

Payal Chhajed

Hi

This is pure financial transaction and not in the nature of income hence you are not required to show in your iTR.

Please keep all the documents with you for future references/income tax notice.

You should not worry, there will not be any tax liability.

The amount of refund is not taxable as it is not your income. It is only a refund of an expense which you incurred in 2011. Nothing to worry and just make sure you have the evidence from the company regarding the receipt and also that this amount is nowhere reflected in your Form 16 as part of the salary, just to avoid unnecessary hassle.

No .refunded amount is not your income so not taxable.

No need to show this figure in ITR.

Yes when you have all the documents ,it can be justified easily.

You may keep on records documents evidencing that your cousin has financed the said deposit. The receipt of such deposit from your company is similar to a rent deposit which we receive back when we vacate a rented flat. Accordingly, you may claim such receipt as deposit refund and not a taxable income. However, in case your employer had provided any interest on such deposit, then such interest shall be taxable in India.