Bonus due on receipt basis or due

Bonus is taxable under the head Income from Salary.

Salary is taxable on the basis of due or reciept which ever is earlier.

So, bonus is taxable on the above principle. Even though the company has make provision for bonus in the previouse year itself, employee will get the right to bonus only on that occassion of deepawali. An amount is said to be on when the person has got absolute right to recieve such sum.

So, I am of the opinion that bonus should be taxable in the financial year 2013-14 and AY 2014-15.