Bonus outstadning

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CA Bosu babu (Querist)
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13 July 2009 1.I have to pay salary to employess. but before that they have resigned and gone without taking salary. what i have to do in my books when payable is o/s for more than say 5years.

2. Bonus payable is outstanding for left employees(where they are no body knws) what i can do such amount in my accounts?

i have read somewhere that you have to tranfer to some govt account.

but i dont knw when we have to do? i mean time period. gimme details pls

visu iyer

visu iyer (Expert)
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18 July 2009 No problem.
Reverse the entry by crediting the expenses and pay tax.

God blessed U
with employees
who have not collected Salary.

Also foregoing SALARY also taxable at the hands of EMPLOYEE..

Let God save them..!!

CA Bosu babu

CA Bosu babu (Querist)
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19 July 2009 hello visu.....pls tell if u knw only....

and my question is what can i do with tht liability ,......you have to comply with the law....

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