bonus and leave encashment for the company as a exps
This query is : Resolved
16 March 2009
what is treatement of salary and leave encashment payable at the end of the year?
i.e. provisions made by the company for bonus and leave encashment and not paid till the filling of return?
i.e. provisions made by the company for bonus and leave encashment and not paid till the filling of return?
Ram Avtar Singh
(Expert)
16 March 2009
No payable of leave encashment, leave should be commulative in leave registerin next year balance. & salary payable is libility of company. its credited to employee account.
CA Nitin Wadhwani
(Expert)
17 March 2009
If not paid, they are disallowed u/s 43(b)(2) and (6) respectively.
09 April 2009
PROVISION IS TO BE MADE FOR BONUS AS WELL AS LEAVE ENCASHMENT. THESE ARE ALLOWED AS EXPENSE ONLY IF THESE ARE PAID BEFORE FILING OF INCOME TAX RETURN OTHERWISE THERSE ARE ADD BACK IN INCOME OF THE CONCERN.
(SECTION 43(B)(2) AND (6)
(SECTION 43(B)(2) AND (6)
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