Bonus
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2016
WHAT EFFECT WILL BE AS PER INCOME TAX IF IN PARTNER SHIP FIRM ( AUDITED ) IF WE NOT MAKE PROVISION OF BONUS AND PAID THE SAME DURING YEAR AS ON MONTH OF MARCH ENDING
01 April 2016
You can consider bonus for the year in which you have made payment. If you make any provision it has to be paid within 6 months from the end of financial year before filing tax return.
You have mentioned you have paid in March. If you would have made provision, during computation it is disallowed. Same was allowed in the year of payment.
You have mentioned you have paid in March. If you would have made provision, during computation it is disallowed. Same was allowed in the year of payment.
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