Determining the reasonableness of the amount of the bonus according to section 36(1)(ii).

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 1961, the ceiling prescribed u/s. 11(1) of the payment of Bonus Act 1965 should be taken into consideration. 2. Section 11(1) of the Payment of Bonus Act, 1965 requires that where, in respect of any accounting year the allocable surplus exceeds the minimum bonus payable to the employees u/s. 10 ibid, the employer should, in view of such minimum bonus, pay every employee in the accounting year a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... g as may be fixed under an agreement contemplated u/s. 34(3) of the said Act should be adhered to by the I.T. Officers while determining the reasonableness of the amount of the bonus according to section 36(1)(ii) of the I.T. Act, 1961. 4. The instruction may please be brought to the notice of all the assessing officers in the charge. - Circular - Trade Notice - Public Notice - Instructions - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X