Section 33 of COW : Section 33: Computation Of Available Surplus

COW

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Explanation using Example

Imagine a manufacturing company, XYZ Pvt. Ltd., has just completed its accounting year. To determine the bonus payable to its employees, it first calculates its gross profits. According to Section 33 of The Code on Wages, 2019, XYZ Pvt. Ltd. must deduct certain sums as specified in section 34 from its gross profits to arrive at the 'available surplus'.

For instance, if the gross profits for the year are ₹10 million, and the deductions under section 34 (such as depreciation, development rebate, investment allowance, etc.) am...

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