Company Secretary, Hr, Legal, Finance
Payroll & Statutory Laws

Thread Started by #6aacc83ce85c3fdeca3499b5c

Dear Seniors, Pls. clarify whether Tax is to be deducted on Bonus paid and PL Encashment of the employee. Ramesh
20th March 2009 From India, Hyderabad
Yes as per income tax act, tax is to be deducted on both - Bonus and EL. As they come under Gross Salary in Form 16. no exemption is available for these components.
20th March 2009 From India, New Delhi
Dear Ramesh,
What Ritu said is right? and another thing if company or client directly provide cash as gift to employee is should taken to TDS. otherwise employee can take any product and bill submitted directly to company for that gift encash is not taxble. but for company its FBT.
20th March 2009 From India, Bangalore
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