Computation of gross profits: amendment requires employers to calculate profits according to the First Schedule for bonus purposes. The substituted section mandates that an employer's gross profits from an establishment for any accounting year be computed in the manner specified in the ... Summary
Computation of gross profits: amendment requires employers to calculate profits according to the First Schedule for bonus purposes.
The substituted section mandates that an employer's gross profits from an establishment for any accounting year be computed in the manner specified in the First Schedule, making the Schedule the authoritative method for profit calculation and imposing on employers the obligation to follow that method.
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