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Diwali bonus

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(Querist)
13 October 2014 if a company pay Diwali bonus in cash to their employees then can company claim such bonus expense in their profit nd loss account as deduction and what will be the tax treatment of such bonus in the hands of company and employees ?
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@VaibhavJ

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@VaibhavJ (Expert)
13 October 2014 Hi

It is taxable in the hand of employee under Income from salary.

Employer can claim same amount as expenses in P&L A/c.

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