Taxability of bonus for salaried employee

This query is : Resolved

ACMA SINHA (Querist)
Follow

08 February 2012 Dear All,

I want to know about the taxability of Bonus. Is bonus is taxable on receipt basis/accrued basis?Policy of our company regarding Bonus is that, bonus for the current year is payable in next Financial Year whether employee render his service/left the company. During the F.Y. 2011-12, I have received Rs. 1885 of bonus related to last F.Y. 2010-11. For the F.Y. 2011-12, the bonus is deducted from salary but payable after April,2012. Is it required to show that part of Bonus in current A.Y.2012-13 or shown in next year when becomes due / receipt.

Thanks in advance

Sachin Sinha