a company made provision for bonus payable as on 31 march 2011 , as per my knowledge it is taxable under the head salary and my question reagrding the dedeuction of tds on such bouns payable , tds to be deducted on what basis payment or accural basis
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tax should be deducted on payment basis...section 192
but my question is, suppose company keeps making provisions for bonus and next year it doesn't pay the same, the employee has to bear this because the salary is taxable on due basis......
please tell me as per section 40 (a) (iv), is this provision of bonus is deductible or not????
if it is deductible then it will be very much beneficial for company and dangerous for employees........
experts plz reply i m getting much confused.........
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hi gaurav
in response to your query bonus is allowed as deduction in income tax on payment basis
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