Bonus Taxable

Hello friend,

As per defination of Salary in Income Tax Act,1961 Salary also includes sum payable by way of bonus to employees. So bonus will be taxable in hands of employee.

obviously it is taxable

When ever you get bonus it will be included in that years income

Ya it is taxable on cash basis.

It is taxable in the year of receipt.

as per section 17(1), salary includes bonus.

salary is taxable when it is received or when it becomes due, whichever is earlier.

only under the heads

income from other source and income from business or profession

the assessee has the option to offer his income to tax on cash basis.

-Bonus is taxable when it accrues to assessee, which invariably is the same year in which it is received

Yes it is taxable .

i agree with gopalahrishnan

I too agree with  Mr. Gopalakrishnan

yes it is taxable

Is outstanding bonus (bonus arrears/due) taxable??

ya Bonus is taxable in hand of employee becouse is part of salary.