I have to calculate TDS u/s 192 regarding salary paid and accrued to x Employee during the F. y. 2008-09 as per example given below:
Basic 20000*12 = 2400000 HRA 10000*12 = 1200000 Coneyance Allowance 800*12 = 9600 Bonus paid on 31.10.08 for F. Y. 2007-08 = 28800
Further we are providing Bonuns payable for the f. y. 2008-09 a sum of Rs. 30800.00 to x Employee on 31.03.2009 in the Company's Books of Accounts.
I want to clarification whether Rs. 28800.00 will be added in the total salary or Rs. 30800.00 will be further added for the computation of salary for the f. y. 2008-09 of mr. X.
Further during the f. y. 2007-08 bonus for Rs. 28800.00 did not computed in total income of Mr. X. i.e. Form 16 was issued by without added bonus for Rs. 28800.00
18 March 2009
You have to Consider the Bonus amount For the F.Y 2007-08 in the current Year computation. Since the same has not been taxed earlier Year.
The Definition of Salary includes Bonus also.
The Salary is taxable "Due or Receipts " basis which ever is earlier.
So you have to consider both the Bonus in the Current year computation.
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