Income tax on joining bonus/one time payment
This query is : Resolved
05 May 2016
Dear Sir,
Is there any rule that we have to recover the net off tax on Joining Bonus.
Ex :- If we pay Rs 8,00,000/- Joining bonus to an employee who falls in 30% slab..
Do we have to recover complete tax on paid month or it can be distributed to rest of the months.
Is there any rule that we have to recover the net off tax on Joining Bonus.
Ex :- If we pay Rs 8,00,000/- Joining bonus to an employee who falls in 30% slab..
Do we have to recover complete tax on paid month or it can be distributed to rest of the months.
07 May 2016
Dear Vinay, TDS on salary is deducted on payment basis. So as per me, TDS has to be deducted at the time of payment of Rs 800,000. It can't be distributed over months
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