We paid a 1 time Bonus to all the employees this month, as the company is doing well.
Should I deduct TDS on this payment as well under 192B?
4 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 07 December 2013
Bonus is part of salary, so TDS will apply.
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 08 December 2013
If there exist a relationship of employee and employer, then it becomes part of employees annual Salary package and hence liable to TDS u/s 192B at annual average rate of tax based on employees expected annual income.
satish kumar Chauhan
(accountant)
(347 Points)
Replied 09 December 2013
Yes TDS is applicalbe on bonus paid to employees, as bonus is the part of salary.
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