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TMI BlogTDS on Bonus.X X X X Extracts X X X X X X X X Extracts X X X X ..... TDS on Bonus. X X X X Extracts X X X X X X X X Extracts X X X X ..... in the month of June'13 for the Financial Year 2012-13. What would be the tax treatment (TDS) for this bonus? Whether TDS is deducted for the FY 2012-13 or FY 2013-14? Reply By rosy sachdeva: The Rep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly: Dear Sir If the amt of bonus liability determined in March 13 ,we should deduct TDS & deposit by April 13 ,file our return by 15th May 13 & may actually pay in June 13 However if there is no TD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S liability for Bonus then we can book the liability even for 2012-13 in June 13 but if there is TDS liability then also we can book it but the return may either be late sent or they will be revised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... & expense booked for 2012-13 Reply By Deepak Whorra: The Reply: This reply does not answer the question but raises more issues Reply By sanjeev bajaj: The Reply: Performance Bonus to employees is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... part and parcel of Salary assessable under the Head "Income under the head Salary" hence tds has to be made u/s 192,of the Income Tax Act, 1961 which allows the deduction of tax at the time of payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .
Hence, TDS at the time of payment X X X X Extracts X X X X X X X X Extracts X X X X
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