Is Your Bonus Under the 1965 Bonus Act Taxable? Seeking Clarity on Tax Sections

Dear Experts, Is the bonus received under the provisions of the Bonus Act of 1965 taxable or not taxable under the Income Tax Act? If yes, under which section is it taxed? If no, please specify.

Thanks in advance.
Regards

Yes, it is taxable if the employee falls under the limit of taxable income. Under section 17 of the Income Tax Act, 1961, the following incomes come under the head of salary:

- Salary (including advance salary)
- Wages
- Fees
- Commissions
- Pensions
- Annuity
- Perquisite
- Gratuity
- Annual Bonus
- Income From Provident Fund
- Leave Encashment
- Allowance
- Awards

Please let me know if you need any further clarification.