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Tax on bonus

Sayantan Bhattacharya. (manager) (24 Points)

24 April 2015

Hello All,

Need one help from you. In my company they pasid the bonus and which is not a part of my CTC. But they deducted the tax for the total amount , Means for example my CTC is 8L pa and i got a bonus 2L and they deducted the tax from 8+2 L @ 30%.

Could anyone please help me know what is the tax shoul ddeducte from bonus which is not a part of my CTC.

Thanks

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2 Replies

CMA Poornima Madhava (CMA) (13097 Points)
Replied 24 April 2015

Bonus is taxable under the head salaries and since u r under 20% slab, they need to deduct only 20% not 30%. Further, 30% tax cannot be deducted on flat rate in any case, they have to consider other slab option like 10%, 20% and in case, the income falls into 30% slab, then 30% to be taxed on such portion which exceeds the limit.