Computation of the Allocable surplus under under POB Act

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@VaibhavJ (Believe!! Live your dreams!) (33511 Points)
Replied 18 December 2018

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.

CA Yesha Shah (Assistant Manager- Accounts & Finance) (44 Points)
Replied 20 December 2018

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 ?

Ganesh Jadhav (RSEM) (22 Points)
Replied 13 February 2019

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