| Originally posted by : CA Yesha Shah | ||
 |
You have mentioned that we can reduce 6% of the reserves from gross profit for arriving at available surplus as per third schedule. But my query is that what will be deducted if our reserves are a negative balance in the balance sheet ? (Negative balance due to losses) |  |
In that case this hould be NIL.
| Originally posted by : CA Yesha Shah | ||
|
You have mentioned that we can reduce 6% of the reserves from gross profit for arriving at available surplus as per third schedule. But my query is that what will be deducted if our reserves are a negative balance in the balance sheet ? (Negative balance due to losses) | |
In that case this hould be NIL.
Dear sir . Thank you for the response . Can you give an example for set off for a case where there is no allocable surplus in year 1 & we have paid minimus bonus . & in Year 2, there is some allocable surplus . So can we reduce the amount paid in year 1 from the allocable surplus of Year 2 ? If so, how much ?
Dear Sir,
If computation of gross profits for Bonus provision ( Schedule II) working is ready & amount of Allocable Surplus is declared in figures then how can we know percentage of bonus surplus? ( Means 8.33% or 20%)
Regards,
Ganesh Jadhav
CAclubindia
