The payment of Bonus (Amendment) Act, 1976-Amendment to section 36(1)(ii) of the Income-tax Act, 1961-Effect thereof-Clarification regarding

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ted 9/8/1976 To             All Commissioners of Income-tax. Sir, Subject:  The payment of Bonus (Amendment) Act, 1976-Amendment to section 36(1)(ii) of the Income-tax Act, 1961-Effect thereof-Clarification regarding. Section 29 of the Payment of Bonus (Amendment) Act, 1976, has inserted a new proviso to clause (ii) of sub-....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tions, persons drawing a salary or wage exceeding Rs. 1,600 per month and employed in a factory or establishment to which the provisions of the payment of Bonus Act apply are not covered by the provisions of that Act relating to compulsory payment of bonus. In view thereof, the restriction laid down in the aforesaid first proviso regarding deduction in respect of bonus paid to employees covered by....