is bonus comes into benefits? or deductions? how can a bonus added to annual income? for whom the bonus will be added?
From India, Hyderabad
1From India, Hyderabad
Hi Savitha Bonus is added to the Income. Even bonus are part of income & TDS is applicable on the same. Bonus is added for all the employees who ever receiving bonus from the company.
From India, Bangalore
From India, Bangalore
Hi Savitha,
Bonus is part of the salary (i.e. Salary include all pay, allowances, bonus, perquisites, commission, etc..). As per the provision of the Income Tax Act, 1961, the amount of compensation due or received by an employee from his employer in connection with an employment shall be taxable as salary in the hands of the employee. Accordingly, the bonus receivable by you shall be taxable in your hands as salary income.
regards,
Narayan
Email:-
From India, Hyderabad
Bonus is part of the salary (i.e. Salary include all pay, allowances, bonus, perquisites, commission, etc..). As per the provision of the Income Tax Act, 1961, the amount of compensation due or received by an employee from his employer in connection with an employment shall be taxable as salary in the hands of the employee. Accordingly, the bonus receivable by you shall be taxable in your hands as salary income.
regards,
Narayan
Email:-
From India, Hyderabad
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