Hello Aniket,
Bonus received by an employee is charged to tax in the year of receipt and Leave encashment of unused paid leave during the employment period is taxable as it is considered as income from salary.
In this case, the related employee can get tax relief under Section-89.
67Bonus received by an employee is charged to tax in the year of receipt and Leave encashment of unused paid leave during the employment period is taxable as it is considered as income from salary.
In this case, the related employee can get tax relief under Section-89.
Professional Tax is calculated on the basis of gross income received during the period of tax and as such additional incomes like bonus, leave surrender salary automatically merge with the gross income pertaining to the period of tax. Therefore, no necessity to deduct tax separately on such incomes.
From India, Salem
From India, Salem
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