TMI BlogTDS on Bonus.X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, Company declares performance bonus in the month of June'13 for the Financial Year 2012-13. What would be the tax treatment (TDS) for this bonus? Whether TDS is deducted for the FY 2012-13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or FY 2013-14? - Reply By rosy sachdeva - The Reply = Dear Sir If the amt of bonus liability determined in March 13 ,we should deduct TDS deposit by April 13 ,file our return by 15th May 13 ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y actually pay in June 13 However if there is no TDS liability for Bonus then we can book the liability even for 2012-13 in June 13 but if there is TDS liability then also we can book it but the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturn may either be late sent or they will be revised expense booked for 2012-13 - Reply By Deepak Whorra - The Reply = This reply does not answer the question but raises more issues - Reply By s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anjeev bajaj - The Reply = Performance Bonus to employees is part and parcel of Salary assessable under the Head "Income under the head Salary" hence tds has to be made u/s 192 ,of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961 which allows the deduction of tax at the time of payment. Hence, TDS at the time of payment - TDS on Bonus. - Query Started By: - Pratyush Parashar Dated:- 7-5-2013 Income Tax - Got 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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