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I joined KGS in feb 2022, we recently got a mail regarding timeline of appraisal and bonus payout from the partner. My reporting manager hasn't yet reached out to me regarding goal setting, not sure if that happens here. Can you pls help me to know what all things we need to do from our end for the appraisal cycle and bonus payout? Since I'm new to this company KPMG KPMG India
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2nd year. What’s the typical bonus schedule?
Hi Fisher,
I am working in TCS with total year of experience as 3.8 Yrs. I am having an offer of 14 + 1 LPA ( joining bonus ) from prod based company in Mumbai. I got selected in CTS. Can CTS provide me 20 LPA with this experience. ??
Please do reply.
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This happened to me as well. I spoke to a CPA about it and he said that this falls under itemization vs standard deduction. Fighting for the tax return on the signing bonus wasn’t worth it compared to choosing standard deduction in my case.
EY1, amend your tax return and get your taxes back.
OP, read this article https://dimovtax.com/how-to-get-tax-paid-back-for-bonus-repayment/
@EYP1: Confused by your response. This thread is specifically focused on having to pay back income that was counted on a former year’s tax return, and how to maximize federal / state tax savings as a result (since OP / folks have to pay back gross amounts to their firms).
Chief
I would have thought they wouldn’t report the amount of your bonus as income and that would get you the taxes back…