Tax on Joining Bonus

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?

24mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

FluffyNarwhal

Amazon24mo

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

SleepyPenguin

Jupiter24mo

Noted. Thanks much!

FluffyNarwhal

Amazon24mo

Is this a joining bonus or a relocation bonus?

Joining bonus is taxable Relocation bonus is tax exempt

SleepyPenguin

Jupiter24mo

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

FluffyNarwhal

Amazon24mo

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

SwirlyPancake

Jio24mo

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

Discover more

Curated from across

Salary Discussion5mo

by SnoozyPenguinStudent

Tax on Joining Bonus

What is the tax rate on joining bonus?

Personal Finance16mo

by JazzyBobaZomato

Wanted to know tax on my salary

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

IT Company Discussion8mo

by PeppyNarwhalAccenture

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