12 March 2008
Dear Sir Our Company will be Credited the bonus amount for the year 2007-08 on 31-03-2008 to the employee personnel account and bonus payment will be paid in jun'2008.when we will deduct TDS on Such bonus U/s.192 in financial year 2007-08 or 2008-09 please clarify the matter is very very urgent
12 March 2008
Bonus is taxable under the head salary and according to section 192, any sum chargeable under the head salary is subject to tds at the time of payment so in your case tds is to deducted in financial year 2008-2009.
CAclubindia
