Payment of bonus: deductions from gross profits permitted for depreciation, direct tax, and prescribed sums. Section 34 designates as prior charges on gross profits: depreciation admissible under the Income-tax Act or agricultural income-tax law; subject to section 35, any direct tax the employer is liable to pay for the accounting year in respect of income, profits and gains; and such further sums in respect of the employer as may be prescribed by the Central Government.