Tax Liability of Bonus
This query is : Resolved
18 January 2011
Dear Sir,
My employer is deducting bonus from my salary and this is to be paid to me in next financial year as told by management.
When it will be taxable and is it to be shown in my form 16.
My employer is deducting bonus from my salary and this is to be paid to me in next financial year as told by management.
When it will be taxable and is it to be shown in my form 16.
18 January 2011
It is taxable on due or receipt basis, 'whichever is earlier'
NITIN SHARMA
(Expert)
20 January 2011
as per income tax provisions salary is taxabke on the basis of accrual or receipt whichever is earlier.
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