Section 10(4) 2BB for availing relocation allowance exemption 
  
 I claimed it in full for my relocation allowance of 1.5L but it needs to be specified as a relocation allowance

Data Analyst

Software Engineer

Is this a joining bonus or a relocation bonus? 
  
 Joining bonus is taxable 
 Relocation bonus is tax exempt

It is specified as relocation bonus in my offer letter. Should I refer the payslip?

Refer the payslip for good measure, but yes, you should be able to get an exemption on the amount 
  
 Pls note the law says it's exempt upto receipts produced for expenses (Hotel for 15 days max, packers movers charges, airline trip) but I've had no hassles in claiming the full amount as exempt

Bonus and VP doesn't have TDS deducted but you'll be taxed while filing.

Founder

I recently received a 1L joining bonus for relocation. May I know if this is a taxable income?   My company didn't peform a TDS and provided me the entire 1L. Do I have to pay tax while filing retu...

Welcome to Personal Finance's Private Community

I recently received a 1L joining bonus for relocation. May I know if this is a taxable income? 

My company didn't peform a TDS and provided me the entire 1L. Do I have to pay tax while filing returns?

Tax on Joining Bonus

Tax on Joining Bonus- Grapevine

Hi All,
  I switched to a new company last year and because of penalty clause, my joining bonus is deducted from the f&f settlement of the previous company. The issue is in my form 16 they have included it in my total earnings. Now my old employer is not correcting it. Whats the way forward? Can i correct it while filing ITR?

Joining bonus recovery - ITR

Strategy & Operations

CTC - 21.5 lpa
Fixed - 16 lpa
Joining Bonus - 4 
Relocation - 1.5 

Also tell me which regime to follow and how to save tax

Wanted to know tax on my salary

Growth Manager

Welcome to IT Company Discussion's Private Community

How to return the joining bonus? If we leave a company before the mentioned time period in an offer letter? Do they cut from salary ? Or do we have to return explicitly?
I joined Accenture a few days back but not liking the project here and they are not even allowing me to change the project, so now the only way remaining is to change the company.
If anyone has any idea regarding returning joining bonus please guide/comment.

Returning joining bonus

Team Lead

CA here. In case anybody has any query regarding Income-tax return filing, can comment below. Will try to help you out as much as possible.

Income- tax Return

I got salary of 250000 in April which includes bonus + leave encashment around 90k, for which there was a 50k income tax cut for this month. HR said since bonus was more, they had to deduct 50k. Is this how it is usually done? Is that amount justified?

Income tax cut for bonus

I heard recently from a friend that a company offered the candidate 36lpa and there is no pf cut or anything. 36/12 = 3 lakhs would be monthly in-hand directly. It's a startup and recently got registered in India so benefits would take some time to reflect. And equity yet to be decided.

Has anyone heard of such things?  Does any company pay the whole compensation/12?

Pay divided by 12

Product Manager

Hi folks, can anyone please shed some light on joining bonus. Whats the benefits of joining bonus? Is it really beneficial? Or companies just using it to play with our minds? 
Any comment will be helpful. Thanks

Joining bonus

Has Deloitte stopped offering relocation reimbursements and joining bonuses, I'm negotiating with them but they aren't budging on both these points.

Any leads are appreciated on this topic.

Deloitte India - Relocation and Joining Bonus

Security Analyst

Welcome to Software Engineers's Private Community

Let’s say I leave a company after 2 months. What would happen if I don’t return their joining bonus.

They have a clause in offer letter that says I should return the amount if I leave before a year.

Not returning joining bonus

How to pay 0 tax when income is around >= 12 LPA?

Data Scientist

Dear members please help me with following
1. Are AM, DM and Senior Consultant are same level in Deloitte...or there is difference?
2. Does  Deloitte offer Relocation expenses, if yes then how much?
3. What is approximate increment and variable pay% in consulting line?
4. How much joining bonus they provide?

Deloitte-Appraisal, Hierarchy, Joining Bonus, Relocation Bonus

Consultant

I recently got a job offer at a well-funded remote startup headquartered in the US as a DevOps engineer. They adjust the salary package to account for the country so I won't be earning in crores... but I wanted to ask people who are in remote positions as to how to negotiate a salary that will be rigid more or less,no options are there to negotiate till a super high margin (maybe 10% max).

For example, they are offering 33 LPA currently, does that put me in a higher tax bracket and can I negotiate for a lower compensation so that I can be put in a lower tax bracket, say I ask for 29 LPA and ask for a joining bonus (or HRA) or some restructuring to do that? 

I don't understand how taxes work in India especially with remote payments but I'm hoping someone can offer the right guidance and resources so that I can look into this in depth later on as well. This is my first ever job and I got it straight out of college, so I do not mind even if they are paying me less than their US counterparts. This salary is more than enough to survive in a tier 2 city (will be shifting back to live with my parents).

I don't have much investments right nos, just a couple of FDs and some equity + debt funds along with stocks (mostly banks + chemical companies here and there). I can look into ELSS funds and what not if that can save up some taxes. I am considering talking to a CA about this too.

(Note: not comfortable with naming it even if this is an anonymous platform because it has like a strength of 50 and I feel it is irrelevant to the discussion).

TIA!

Tax savings and salary question for remote jobs

Scrum Master

I received my internship (that I did in my final year) stipend in July with 10℅ tds deduction under 194JB that is mentioned I  

Later same year I joined other other company full time and received  regular salary and received another form 16.

Now I'm confused which itr to file and how to proceed.

Help with ITR

Welcome to Indian Startups's Private Community

I recently received an offer from a early stage startup. But they told that that pay in contractual basis. when asked about the reason they told that it helps the company and employees to save tax.

How does it work?
will it affect my future employment if I take this job? like if I join some other company will they accept that I was actually working fulltime.

The role is fulltime, but only the money transaction will happen as contractual.

How does Contract salary work for a fulltime role

Hi, experts 
I was filing itr, so needed help, I started my job from May 2022, but before that I did an internship where I got salary credited to my account , it was around 1500 for one month (March) for this assessment year and also they did deduct a tds of around 300 rupees which I can see on my itr home page . So should I include those amount in my gross income while filing tds ( I have only included my current gross salary) ?

Need help for ITR

Computer scientist

Welcome to Product Managers's Private Community

I got to know that budget for the role i interviewed is in range of 20-25 LPA. My last drawn salary itself is lower than the market standards. The company wouldn't give hike more than 30% considering my experience in the role domain. But I have performed well in all my interview rounds. 
Any tips from the community to negotiate for atleast the lower band of their budget?

Tax on Joining Bonus

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