Payment of bonus-Allowability under section 36(1)(ii) of the Income-tax Act, 1961-Regarding

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..... r section 36(1)(ii) of the Income-tax Act, 1961-Regarding. Reference is invited to Board's Circular No. 287 dated 4th December, 1980. Under first proviso to section 36(1)(ii) of the Income-tax Act, 1961, deduction for payment of bonus or commission to an employee for services rendered by him is restricted to the amount payable under the Payment of Bonus Act, 1965. Under this Act, a minimum of 8. .....

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