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14-10-2007, 06:42 PM
| | | | Join Date: Jul 2006 Location: Bangalore |
| | BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi Citehr members,
Does payment of Bonus attracts deduction towards Professional Tax? Looking out for your help!
Srinaren | |
15-10-2007, 12:28 PM
| | | | Join Date: Jul 2006 Location: Bangalore |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi Friends,
Nobody has any information on this topic?? Surprising! Can you please enlighten me on this?
Srinaren | |
15-10-2007, 01:41 PM
| | | | Join Date: Oct 2007 Location: NAGPUR |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi!
Bonus is taxable, as bonus is considered to be part of salary.
Hema | |
15-10-2007, 07:09 PM
| | | | Join Date: Jul 2006 Location: Jamnagar, Gujarat |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi Srinivasan,
Yes of course PT is to be deducted. As PT is on Gross Salary and Bonus is part of Gross Salary it is necessary.
Regards,
Sree | |
15-10-2007, 07:13 PM
| | | | Join Date: Jul 2006 Location: Jamnagar, Gujarat |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi Srinivasan,
Yes of course PT is to be deducted. As PT is on Gross Salary and Bonus is part of Gross Salary it is necessary.
Regards,
Sree | |
15-10-2007, 07:18 PM
| | | | Join Date: Jul 2007 Location: Gujarat |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? hello
bunus is not included in gross salary so p.t.is not applicable on bonus.
regards
mitesh | |
15-10-2007, 07:58 PM
| | | | Join Date: Jun 2007 Location: Kolkata, West Bengal, India |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Bonus is not a part of Gross Salary , it is a yearly emoluments, hence is not applicable for PT.
Bibek Banerjee | |
16-10-2007, 04:11 PM
| | | | Join Date: Jul 2006 Location: Bangalore |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Hi,
There seems to be difference of opinion! Can any legal expert throw some light on this please?
Srinaren | |
16-10-2007, 04:26 PM
| | | | Join Date: Sep 2007 Location: Hyderabad |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? hi
Bonus is a part of the gross fixed renumeration so tax is applicable
santhosh.p | |
16-10-2007, 05:01 PM
| | | | Join Date: Jul 2007 Location: India-Mumbai |
| | Re: BONUS - DOES PROFESSIONAL TAX IS APPLIABLE ON THIS? Dear all,
Bonus is a part of Gross Income, hence Income tax is deductable (if applicable). But Professional Tax is totally different concept (deduction)
There won't be any PT deduction on Bonus
Prasanna |
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