apart from my salary of Rs 35000 per month I am eligible for a lumpsum cash incentive of rs 50000 on completion of a project, so i wanted to know how much will i be taxed on the cash incentive?
1 Answers
Its like a performance bonus. Whole amount would be added to your taxable income and taxed as per your slab rates flat.
I assume you are in 10% slab rate, so 5000 Rs would be deducted from this incentive on payment (plus 3% education cess)
Related