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Statutory bonus - it is taxable?

Querist : Anonymous (Querist) 15 October 2011 This query is : Resolved 
Dear Experts,

Is the bonus taxable under Income Tax Act, if yes under which section?

Thanks in advance.
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Raj Kumar Makkad (Expert) 15 October 2011
Salary include all pay, allowances, bonus, perquisites (facilities provided to employees, which can be evaluated in money), commission, etc. By what ever name called. In salary head, we add the following to salary : employer's contribution to PF, taxable perquisites under sec. 17(2) , ESOPs, DA, other allowances
Querist : Anonymous (Querist) 15 October 2011
Thanks a lot Sir!!!
Vijayarajan (Expert) 16 October 2011
Mr. Raj kumar Makkad has explained the querry correctly. Thanks.
Guest (Expert) 16 October 2011
Definitely, bonus is taxable, as part of salary, the term as has nicely been explained by Shri Makkad.
prabhakar singh (Expert) 16 October 2011
YEAH ! TRUE I AGREE.

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