are bonuses a part of previous earning calculation

[jain1978]

hi all,

I recieved a bonus from my employer in march, 2007. I would like to know if I can include the bonus amount in the previous earnings calculations?

I was working in India that time and the tax summary document prepared by my employer shows the bonus as part of the gross taxable income. I think I should be able to include it but thought i would confirm.

I am due to send my application, the day after. Early replies will be greatly appreciated.

Thanks in advance!

[gorajim]

Hi,

If the bonus is declared in the salary slip for the month and included in your tax calculation, it is accepted as salary. So is any other amount that is included in the salary slips - e.g., performance incentives, other perks and allowances.

It should not be on 13th payslip, if you know what I mean... HO admits only 12 payslips, one for each consecutive month of the 12 month period you are claiming earnings.

Cheers.

[jain1978]

hi gorajim,

thanks for the response. Yes, the amount is included on the salary slip for March, 2007 itself and not on the 13th month:-)
Also it is clearly stated on the tax calculation document provided by the ex-employer.
I guess I will include it in that case.

thanks

[srirkast]

If the bonus is declared as a part of your payslip and your tax return is corroborative with your earnings then there are no issues.

All the best!
Sri

[mariosuresh]

Hi,

I received bonus of around 1 Lakh in Nov 2007. As I dont have any Form16 still is it sufficient to show in the employee letter and in payslip.

regards
Suresh

[srirkast]

In your case, the payslip (which should have your bonus mentioned) and the bank statement should be corroborative with each other.

cheers,
sri