Section 5 of POB Act, 1965 : Section 5: Computation Of Available Surplus

Explanation using Example

Imagine a company, XYZ Pvt. Ltd., has completed its accounting year on March 31, 2023. To calculate the bonus payable to its employees under The Payment of Bonus Act, 1965, it needs to determine the available surplus. The company had a gross profit of $500,000 for the year 2023. From this amount, it needs to deduct sums referred to in section 6 of the Act, such as depreciation, development rebate or development allowance, and any investment allowance to which the company is entitled under the Income-tax A...

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