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POSTED BY ON January 4, 2013 11:49 am COMMENTS (3)
I have a deduction of amount Rs. 4000 every month as performance bonus which is payble after completing a year based on the my performance and also on organisation performance. So is this amount taxable? Also if am leaves the organisation before comleting the cycle year is it taxable?
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In one financial year calculate the total bonus you will receive. You will have to add that to salary and compute tax.
If you are not eligible for something means you are not going to get it so no tax on that!
Not clear about “50% of the deducted amount”
Whatever you do receive should be counted as salary and is taxable
If am joined on August. and going to leave the organisation on next year February, then am not eligible to get the performance bonus. Then is this amount taxable?
next – Let think my organisation is paying 50% of the deducted amount (4000 per month) after completing a year. Then what is the amount to be calculated as taxable.
bonus is part of salary and hence taxable as per slab. When you leave a company is irrelevant for tax. Only the total income earned from salary and other sources in a financial year is