I am appointed to a IT company and they are offering me 50,000 RS as Relocation Bonus?
I didn't understand the term bonus?
Will they give me lump sum money Rs 50,000 as relocation charges or I have to submit the bills of expenses?
Is this amount taxable?How much tax?

Indian Income Tax rules says:

"
He following allowances are exempt to the extent and subject to the conditions indicated in the Rules :-

a) Any allowance for meeting the cost of travel on tour or on transfer.

b) Any allowance, whether granted on tour or for the period of journey in connection with transfer (including any sum paid in connection with transfer, packing and transportation of personal effects on such transfer).

c) Any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office/employment of profit. Provided free conveyance is not provided by the employer.

d) Any allowance granted to meet the expenditure incurred on a helper where he is engaged for the performance of duties of any Office/employment of profit.

Any allowance granted for encouraging academic research in educational and research institutions.

Any allowance for Purchase or maintenance of uniform for wear during the performance of duties of an office/employment of profit.

Are the above allowances to be actually spent to avail of the exemption?

Yes, certainly. Any allowance (mentioned above) received but not actually spent will be taxable"

So you might have to include the Relocation Bonus in your tax return and simultaneously show the related expenses.


Link: Tax upon Allowances, Income Tax, Indian Tax Guide

__________________
This tax opinion is not a legal advice and may have missed facts.

Avirocks:

This forum deals EXCLUSIVELY with U.S. tax issues.

Your question clearly addresses Indian tax issues.