Hi Our company is planning to pay a month’s salary for this Diwali instead of some gifts to the employees, but worried on the tax factor. Can somebody suggest on the same?
From India, Bangalore
From India, Bangalore
Hi, Bonus is very much texable and that to with flat rate of 30% as per Govt of India, tax department. Punit Sharma SAP-HR Malaysia 0060169475281
From India, Bangalore
From India, Bangalore
4
gift upto rs. 5000/- is not taxable ,bonus is taxable and gift above five thousand is taxable
From India, Delhi
From India, Delhi
Hello, The Bonus is taxable, it is part of the salary hence taxable under Salary head. the tax rate depend on your gross annual income. Thanks-Jagmohan Rawat
From India, New Delhi
From India, New Delhi
Hi,
We also got the bonus in the same fashion last year, the tax treatment of the bonus is done by adding it to the annual income of the employee and then the final figure is used to apply the tax. The tax rate is judged on the final figure as per the tax slabs issued by the IT dept.
Hope that explains... :)
From India, Chandigarh
We also got the bonus in the same fashion last year, the tax treatment of the bonus is done by adding it to the annual income of the employee and then the final figure is used to apply the tax. The tax rate is judged on the final figure as per the tax slabs issued by the IT dept.
Hope that explains... :)
From India, Chandigarh
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