Hi friends, Please any of you send me the details on bonus taxability. Thanks & Regards Ramesh
From India, Bangalore
7From India, Bangalore
Dear ramserp,
Bonus is taxable on receipt basis and is included in the gross salary in the year in which the bonus is received.
Any fees or commission received by the employee or receivable by the employee is fully taxable and has to be included in gross salary. Commission may be a fixed amount per annum or may be a percentage of turnover or net profit. However, the same is taxable under the head "Salaries" when it is received or receivable by the employee.
From India, Bangalore
Bonus is taxable on receipt basis and is included in the gross salary in the year in which the bonus is received.
Any fees or commission received by the employee or receivable by the employee is fully taxable and has to be included in gross salary. Commission may be a fixed amount per annum or may be a percentage of turnover or net profit. However, the same is taxable under the head "Salaries" when it is received or receivable by the employee.
From India, Bangalore
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Amendment to Payment of Bonus Act 2015.jpg
Bonus act amendment gazette copy.pdf
Bonus-amendment _206.doc