Bonus deduction limit clarified: deduction permitted up to statutory bonus payable under Payment of Bonus Act, not confined to minimum

Deduction for bonus or commission under the first proviso to section 36(1)(ii) is limited to the amount payable under the Payment of Bonus Act, 1965. The deduction is not automatically confined to the statutory minimum; any bonus payable within the Act's prescribed minimum and maximum limits is admissible for deduction when computing taxable business income.

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