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Provision for bonus

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 August 2014 Dear sir

We have made provision for bonus in the account & we have not paid till date it will be paid on diwali. Whether we need to report it in tax audit repot ??
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
30 August 2014 Since the bonus (statutory liability) has not been paid on or before the due date of filing the return, the same is disallowed u/s 43B.

Accordingly the same is required to be reported in tax audit report.

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