https://www.taxtmi.com/circulars?id=4607 The amendment inserts a first proviso restricting deduction for bonuses paid to employees covered by the Payment of Bonus Act, while bonuses to employees excluded from that Act (by exceeding the wage ceiling) fall under the second proviso and are deductible only if they meet the conditions of that proviso; the amendment operates from the specified effective date for subsequent assessments. en-us Mon, 09 Aug 1976 00:00:00 +0530 Thu, 31 Jul 2008 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4607 The amendment inserts a first proviso restricting deduction for bonuses paid to employees covered by the Payment of Bonus Act, while bonuses to employees excluded from that Act (by exceeding the wage ceiling) fall under the second proviso and are deductible only if they meet the conditions of that proviso; the amendment operates from the specified effective date for subsequent assessments. Circulars Income Tax Mon, 09 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4607