https://www.taxtmi.com/circulars?id=10792 A provision for bonus must be recognised in the accounts of the year to which the bonus relates, as a charge on profit so the reported profit gives a true and fair view. Differences between the provision and the subsequent payment should be adjusted in the following year-either in the appropriation account or in the profit and loss account-with a note that the adjustment relates to the preceding year. en-us Mon, 22 Sep 1969 00:00:00 +0530 Fri, 17 Jun 2011 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10792 A provision for bonus must be recognised in the accounts of the year to which the bonus relates, as a charge on profit so the reported profit gives a true and fair view. Differences between the provision and the subsequent payment should be adjusted in the following year-either in the appropriation account or in the profit and loss account-with a note that the adjustment relates to the preceding year. Circulars Companies Law Mon, 22 Sep 1969 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10792