SS (VP) 26 March 2013

Deductions if unemployed for a part of an year

If a person gets unemployed during an Assessment year and spends a few months searching for a job which he/she may not be able to find, then such person will have to bear all expenses like rent, transport, expenses for attending interviews, medical apart from managing the family.

Suppose if the person is not able to get another job during the AY then what?

Is there any exemption/ deductions that can be claimed and if so under what section? Please enlighten.

Thanks

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4 Replies

girish nanji shejpal (self practising) 26 March 2013

Sir,

Wheather that person TAX payer Or How Much Salary He/she Earn from their old job ?

& As a personal expenditure He/she claim in their I-Tax Return for serching new job......

Dr. M. C. Gupta (Associate Professor) 27 March 2013

I think there is no such provision in the I T Act.

M.R.K.PRASAD-Advocate (SELF) 28 March 2013

Income tax will be charged on income earned and there is no remedy with income tax department for non income people. If the employer deducts TDS by calculating full year salary nd if your salary for work period is less than taxable salary or tax on your earned salary is less than deducted tax then you can claim refund..

SS (VP) 28 March 2013

As I know the law of jurisprudence (correct me if I am wrong) says, 1000 criminals may escape punishment but one innocent must not be punished. Now-a-days even criminals who have beeen found gulity are escaping the clutches of the law.

I anticpiated this answer. My case may be Ok and it may not hurt me much. If a person who is working, suddenly looses his job for various reasons including market changes, recession etc., must fend for himself/herself till another is found. Intoday's scenario, most of the private company working life ends after 45 years, where as in some professsions there can be no retirement till death.

Why are we tolerating such half baked law by the government makes which are one sided? What is the Govt achieving? Why is the law fraternity not working closely in drafting laws and living it to the Government and its lawyers? Afterall the law is for the people and not for the government? Why everything is handled from the wrong side? Lots of questions remain.

iN INDIA THE PRINCIPLE OF THE GOVT IS 'CITIZENS CANNOT BE TRUSTED". WHO IS RESPONSIBLE FOR IT? OBVIOUSLY THE GOVERNMENTS. IF YOU CANT TRUST YOUR CITIZENS THEN DEMOCRACY IS IN DANGER.