Prov.for bonus
Querist : Anonymous
Bonus a/c dr. 40000/-
To bonus payable 40000/-
(bonus for FY 2012-13)
HR department calculated bonus incorrect. we have paid Actual Bonus to employee 700000/- on 30.10.2013 for Fy 2012-14
30.10.2013
Bonus A/d dr. 300000/-
To Bonus Payable 300000/-
(bonus for fy 2012-13 )
Bonus Payable A/c Dr. 700000/-
To cash/bank 700000/-
(bonus Paid to employee )
Please tell me bonus payable 700000/- is allowed Or disallowed in FY.2014-15
as per income tax act.
Querist : Anonymous
Querist : Anonymous
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