I have a question regarding taxation of joining bonus.

I recieved a joining bonus of 1 lakh from my previous employer in last fiscal year which was taxed.
I resigned from the organisation before completing 1 year... Which will be deducted from my last month salary.
How does taxation works in this case.

Posting as :
works at
You are currently posting as works at

Nothing different. It forms part of CTC and normal salary like any other head and gets taxed at slab rates.

Just a query, The joining bonus would be taxed at source when paid. But when leaving the prorated amount is deducted, so can we claim refund on the taxed amount as some of it deducted when we leave the company?

Related Posts

I am currently working as a SAE in Canada and thinking of moving to London, UK. What salary should I expect?

like

Hii everyone from IBM 👋🏻

Whats the process of initiating and getting the hike/bonus?

I joined IBM on last week of May 2022, was on bench till 20th November 2022 and got allocated to project on 21 November 2022.

Whom should I talk to regarding the hike/bonus? And whats the process like??

Will be grateful if I get any inputs. Thanks all :)

like

Do EY India give diwali bonus or any gifts on diwali.

like

Hi All,

i am .net dev with 3.3 yoe have offer of16 lpa (service) and my current company (product) is trying to retain me with 14 lpa its been 1.2 yrs in my current company. Tech stack is good over here. What should i do ? b please suggest.

like
likehelpful

Hello Fishes,

I have received an offer as Associate Data Engineer L2 at Publicis Sapient Gurgaon. I have 1 yr and 8 months of experience. The CTC provided is 16. On other Hand got the same CTC from Neudesic an IBM Company and its WFH ( Remote Completely ). The Third Offer is from PubMatic where CTC is 22.70 ( Including stocks, and variables ) for the Gurgaon location. Please help me out with what basis I should choose among these. If anyone is aware of Pubmatic, is it good to join it.? Thanks

like

To the post below- it is quiet, so I’ll bite!
Does anyone know about associate compensation at the regional Atlantic Canada firms? The the big ones have all been posting job ads for associates in the 3-5 year range. Any insight on salary and billable targets?

Web Developer vs DevOps I'm confused between these 2 career path. Any idea which would be better in terms of growth , salary and more remote opportunities. I have 6 months of time before I switch because I'm currently on bench and after 6 months it'll be YOE . Please help guys I'm hella confused.
Thanks in advance ☺

Am I getting right offer by IBM, 11.5 fixed + PF+Gratuity,
4.5 YOE, Bangalore
SQL, Power BI ?

How many hikes are there in Wipro every year?

like

Does anyone know about @H1, h1.co? Want to know about the pay scale for front end engineer

like

What compensation should I be targeting for a Vice President role at a PE firm with $6.5B AUM in terms of salary, bonus, and carry? How might this differ for an operating partner at a PE fund? TIA!

like

Hello i am negotiating a job offer in Toronto at the moment. I currently live in Montréal. What’s a reasonable salary for someone with 9 years experience in Toronto working for an international consultancy. Thanks!

like

Hi folks, May I know the bonus and hike cycle in KPMG India

like

What is the salary range for L7 in consulting?
Location: India

like

Yearly hike at optum??

What is the salary for Software Engineer position at Optum?

like

More Posts

like

Any insights on on-site opportunities in capgemini?

like

Hi Fishes,

Has anyone heard about SmartSoc. I have an offer from Capgemini and Smartsoc. Which one I should go for.

Smartsoc- 8lpa
Cap- 9lpa + 50k JB
YOE- 3.6

like

Book recommendations for copywriting/advertising? Thank you! 🙏

like

I recently joined Microsoft and see there is lot of internal politics ..i am not sure about all teams.but only my team

Managers are assigning good works to people who are close to them or favourite rather than good people ...is it true in all teams or only in my team..also it's not my individual opinion evryone gossiping the same in my team

like

Is it normal for senior managers to ask you to cancel leaves or to nit apply leaves in EY GDS? My manager told in all hands meeting yesterday to not apply leaves during tear end. Won’t this become a hr issue?

like
like

Hi Fishes,
I've been offered for Engineering expert position at Novartis India. I've received offer letter 2 weeks back and my DOJ is updated to Mid December. I told the HR that my current company's last working day is on mid January and resend the offer letter with mid Jan as my DOJ. But they told that they can send the revised offer letter 3 weeks before the joining date.
Is this normal process? Has anyone gone through similar experience?

like

Is there anyone who can discuss the current development trend of the world economy? I am very willing to learn and share what I know.

like

I’ve been married in a Catholic Church before and now divorced but my now boyfriend says he wants to marry me in a Catholic Church someday. How do I even start a petition for that? Also is that possible to re-marry in a Catholic Church?

like

New to IT B2B marketing. Any advice on how to educate myself with IT? Any classes, books, etc. that you recommend?

like

Anyone else struggling with moving forward I. Their company? I work with three men and two women, the two women are not in my department but the three men are. It feels like I am being held back simply because I am female. I have done everything they have done and I work three times harder then two of them. Just really frustrated at this point.

like

Hi, 11 likes to unlock my DM please.

like

Anyone looking for a Strategist? I just finished at Ad school and have 15 years creative marketing experience. Open to relocate anywhere.

like

What made you realize that science was the right path for you?

like

How is like working for Maersk in SAP domain? What is the average increment ?
How much salary one can expect as Software Engineer ? Would really appreciate your reply!

Hi All. I am currently working in Oracle as QA analyst 2. I have 3.4 years of experience. Oracle has great wlb but the techstack is Robot Framework and my domain is telecom. I don’t see myself working in telecom for a longer run. I want to work with api and ui more. Recently recieved an offer for Sr QA engineer at Paytm. How’s paytm considering wlb and work culture. Can anyone pls help.

like

Are people still live on here? I was diagnosed last year with ADD and I’ve tried two stimulants so far. I know they aren’t meant to be a magic pill but I’m still struggling with general tasks and feel like I’m doing the bare minimum. The Nurse has suggested I try non stimulants. What are peoples experiences with meds ? Did they work or not?

like

What are the rankings for top consulting firms in the human capital space? (Big 3, big 4, +++)

How do you handle rude clinicians in the workplace? I always have an attending talking down to me.

like

Additional Posts in Tax savings

How to save tax for the money from freelance work? As i already have a full time job.

like

By investing 50k/annum in NPS I can save 15k tax per year.. Suggest me I should opt for NPS or not?

Can I pay income tax challan using credit card?

Hi,

Can we use 10(10AA) leave encashment as tax exemption if we separated from the Job?

Note: corresponding tax paid challan info available in form 16

Thanks

My CTC is 21L and i have tax deduction for home loan at 1.5L and icici policy premium at 1.5L
How can i reduce my income tax in what all other investements ? Please guide me

Can we show rent paying to parents if we are living with them.. Do company mandates that parents should be living in different city to qualify for such HRA exemption.

likehelpful

My Last working date at Wipro is 12th of june 2022, So How tax will be calculated for the financial year 2022-2023. My CTC is 8.4L
I will be working only 3 months for this financial year and in April month payslip i can see 6K deducted for tax and in the IT projection it shows around 30k tax deduction gonna happen. I will be joining another Firm in same june month
Please share how tax is calculated in my case and how to save taxes.

Anyone from tax can help me on some tax related queries.

Q1-Can I claim LTA and LTA cash voucher both for the current Block?
Q2- In LTA cash voucher scheme i have a total expenditure of only 50K approx so how much can i get as saving for Tax?
Q3 How the above 2 can be claimed during ITR filing?

I have more Questions but if we get replies on these we can discuss further.
This can help everyone

Can I make rental agreement as paying rent to my dad for tax savings .. I would like to mention 46k per month as rent .. Please help .

likehelpful

Any ways to fake lta

likefunny

How much rent amount should I pay to get maximum tax deduction?

If my company is deducting tax on reimbursements for example relocation, flight travel, mobile usage, etc. Then how to show in tax filing? bcoz as per my understanding it should not be taxable as I am using my money and company is refunding and no extra income. It's like I have already paid once and while refunding company again deducting. Please guide on this issue.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal