https://www.taxtmi.com/caselaws?id=60409 Bonus paid under a valid employee agreement or settlement is treated as bonus payable under the Payment of Bonus Act, 1965, and is deductible under the Income-tax Act, 1961 within the statutory ceiling. The analysis explains that section 37 cannot be used where the expenditure falls within sections 30 to 36, and that the proviso to section 36(1)(ii) does not confine deduction only to the statutory minimum bonus. It also notes that the Payment of Bonus Act recognises agreed bonus linked to production or productivity, subject to the prescribed limit. en-us Fri, 27 Jul 1984 00:00:00 +0530 Wed, 05 Jan 2011 11:55:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60409 Bonus paid under a valid employee agreement or settlement is treated as bonus payable under the Payment of Bonus Act, 1965, and is deductible under the Income-tax Act, 1961 within the statutory ceiling. The analysis explains that section 37 cannot be used where the expenditure falls within sections 30 to 36, and that the proviso to section 36(1)(ii) does not confine deduction only to the statutory minimum bonus. It also notes that the Payment of Bonus Act recognises agreed bonus linked to production or productivity, subject to the prescribed limit. Case-Laws Income Tax Fri, 27 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60409