KRISHAN KUMAR TYAGI
Corporate Hr Head
Human Resources Officer
3rd March 2007 From India, Delhi
Thanks for your input. I wanted to clarify this coz couple of our employees argued with me that in their previous company they were given seperate cheques for their bonus amount; and there were no deductions made.
I was confused. Now I'm sure that its taxable (as its followed in my company)Thanks for your clafication.
5th March 2007 From India, Bangalore
In India, Superannuation is not payable on Bonus, therefore full bonus becomes taxable. But some Companies do deposit up to 15% of basic salary of employees in a superannuation fund of Insurance Companies in the name of the employees. These contributions are not taxable up to Rs. 100.00 thousand in a year.
6th March 2007 From India, Delhi
Bonus is not taxable as such the component of bouns is very samll and is not taxable. As per the law the maximum limit for bouns is 3500 basic salary of the employee. As such a person who is getting a basic salary of rs.3500 and if DA component is not there his actual salary will not come under taxable limit.
Whereas it depends on the companies policies regarding bouns. Yes bonus is taxable as it is a part of CTC salary and in anuual return you have to show it as income. So it is taxable.
8th June 2007 From India, Jaipur