Hi friends, Please any of you send me the details on bonus taxability. Thanks & Regards Ramesh
From India, Bangalore
Acknowledge(0)
Amend(0)
7From India, Bangalore
Acknowledge(0)Amend(0)
Dear ramserp,
Bonus is taxable on a 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 are fully taxable and have 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
Acknowledge(0)Amend(0)
Bonus is taxable on a 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 are fully taxable and have 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
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Bonus Calculation.xls
BONUS CALCULATION RULE (1).pdf