Under section 2(4) of the Payment of Bonus Act, 1965 'allocable surplus' means (a) in relation to an employer, being a company (other than a banking company) which has not made the arrangements prescribed under the Incom
CS Executive · Industrial, Labour & General Laws · PYQS · December 2014
Under section 2(4) of the Payment of Bonus Act, 1965 'allocable surplus' means (a) in relation to an employer, being a company (other than a banking company) which has not made the arrangements prescribed under the Income-tax Act, 1961 for the declaration and payment within India, of the dividends payable out of its profits in accordance with the provisions of section 194 of that Act, __________ of the available surplus in an accounting year; (b) in any other case __________ of such available surplus.
Answer & Explanation:
Correct Answer: Option (D)
Correct answer: (D) 67%; 60%.. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.
Topics: Payment of Bonus Act, 1965
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