Employers often pay bonus and leave encashment at year-end. Each component has specific exemption limits and must appear correctly in Form 16 and your ITR.
Key components
- Statutory bonus under labour laws
- Leave encashment on retirement or otherwise
- Gratuity exemption for eligible employees
- TDS under Section 192 on taxable portion
File accurately through salaried ITR support and Form 16 guide.
