LAWyersclubindia LCI
Login  Register
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

  Start a discussion   Unanswered Report Abuse

Man Jit Singh Sandhu   08 November 2017

Security deposit

I have been working as a Senior Adviser in an International School in Rajasthan. It is in the Offer Letter that 10% of my Salary will be deducted from my Gross Salary till 2 Months Salary is deposited under Security Deposit Head. I am not holding any Position of keeping cash/valuables etc. Yes I have been given a Furnished Residence. Is it legal/lawful to deduct 2 Months Salary @ 10% every month. I am paying Income Tax on my Gross Salary where as I am not getting 10% of the salary and on the other hand Company is enjoying Interest on 10% of my Salary. Pl. guide. Man Jit Singh Sandhu


Reply   Follow

Learning

 2 Replies

Vijay Raj Mahajan

Vijay Raj Mahajan (Advocate)     08 November 2017

You file IT returns and seek refund of extra Income tax deducted on gross salary whereas you get 10% less as actual salary.

(Guest)

Sorry to differ with the views of Shri Vijay Raj Mahajan.

Security deposit, being refundable, is the personal liability of the employee, not allowed as deduction from IT.

If the querist handles cash and other valuables, he is liable to make adequate security deposit. He should rather be thankful to the school management that they have not required the querist to deposit lump sum as the total security deposit.

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics


View More

Related Threads


Loading
Start a New Discussion Unreplied Threads
Laws Follow us


Popular Discussion


  1. Dies Non due to Unauthorised absence
  2. Substitution of lrs if untraceable
  3. Rules relating to language of invoice
  4. Manager (karta) of huf
  5. How o cancel the subdived patta provided
  6. extension of window grill in a cooperati
  7. Renting apartment owned by deceased fath
  8. How to revoke the gift deed obtained unl
  9. Divorce case
  10. Discrepancy in recuitment

view more »



Browse by Category




Stay updated with latest Posts!