Deduction limit for employer bonus restricted to statutory bonus payable under the Payment of Bonus Act, affecting allowable tax deductions. Amendment limits tax deduction for bonuses paid to employees in establishments covered by the Payment of Bonus Act to the amount payable under that Act, and revises proviso language to exclude bonuses already referred to in the earlier proviso, clarifying that the deduction cap applies where the Payment of Bonus Act governs.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction limit for employer bonus restricted to statutory bonus payable under the Payment of Bonus Act, affecting allowable tax deductions.
Amendment limits tax deduction for bonuses paid to employees in establishments covered by the Payment of Bonus Act to the amount payable under that Act, and revises proviso language to exclude bonuses already referred to in the earlier proviso, clarifying that the deduction cap applies where the Payment of Bonus Act governs.
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