1. #1
    Unregistered

    Are performance bonuses taxable in corporate?

    In corporate the performance bonuses are given at the end of financial year and with the annual increment taking into consideration the separate employee’s performance annually as a whole. Do such kind of extra income is also taxable?

  2. #2
    shyam Array
    Join Date
    May 2013
    Posts
    10

    Re: Are performance bonuses taxable in corporate?

    hello..
    Performance bonuses are fully taxable . Regardless of weather or not it forms part of your cost to company,it will be taxed at the applicable rate.If the employer give you a monetary gift exceeding Rs.25,000 it will taxed in the hands of employee,except on the occasion of marriage.In the employer makes a non-monetary gift then the gift per so would not be taxable but the perquisite value of such gift would be worked out and taxed as salary........

+ Reply to Thread

Similar Threads

  1. Replies: 2
    Last Post: 24-04-2013, 12:32 AM
  2. Replies: 2
    Last Post: 26-02-2013, 01:17 AM
  3. Is income from a UK based NGO taxable?
    By Unregistered in forum Professional Discussions
    Replies: 0
    Last Post: 01-02-2013, 04:49 PM
  4. Why bonuses are reduced when there is a loss?
    By Unregistered in forum Professional Discussions
    Replies: 4
    Last Post: 26-12-2012, 05:52 PM
  5. Normas and time period for bonuses in a company?
    By Unregistered in forum Professional Discussions
    Replies: 3
    Last Post: 22-10-2012, 09:21 PM