In this Schedule, the total amount of bonus equal to 8. 33 per cent. of the annual salary or wage
payable to all the employees is assumed to be Rs. 1, 04, 167. Accordingly, the maximum bonus to
which all the employees are entitled to be paid (twenty per cent. of the annual salary or wage of all
the employees) would be Rs. 2, 50, 000.
Year Amount equal To sixty per
cent. or sixty-seven
per cent., as the case may
be, of available surplus
allocable as bonus
Amount
payable as
bonus
Set on or set off of
the year carried
forward
Total set on or set off
carried forward
(1) (2) (3) (4) (5)
Rs. Rs. Rs. Rs. of (year)
1 1,04,167 1,04,167** Nil Nil
2 6,35,000 2,50,000* Set on
2,50,000*
Set on
2,50,000*
(2)
3 2,20,000 2,50,000*
(inclusive of
30,000 from
year-2)
Nil Set on
2, 20,000
(2)
4 3,75,000 2,50,000* Set on
1,25,000
Set on
2,20,000
1,25,000
(2)
(4)
5 1,40,000 2,50,000*
(inclusive of
1,10,000 from
year-2)
Nil Set on
1,10,000
1,25,000
(2)
(4)
6 3,10,000 2,50,000* Set on
60,000
Set on
Nil+ (2)
1,25,000 (4)
60,000 (6)
7 1,00,000 2,50,000*
(inclusive of
1,25,000 from
year-4 and
25,000 from
year-6)
Nil Set on
35,000 (6)
8 Nil
(due to loss)
1,04,167**
(inclusive of
35,000 from
year-6)
Set off
69,167
Set off
69,167 (8)
1. Subs. by Act 66 of 1980, s. 21, for the Third Schedule (w.e.f. 21-8-1980).
31
(1) (2) (3) (4) (5)
9 10,000 1,04,167** Set off
94,167
Set off
69,167
94,167
(8)
(9)
10 2,15,000 1,04,167**
(after setting
off 69,167
from year-8
and 41,666
from year-9)
Nil Set off
52,501 (9)
Notes—
* Maximum
+ The balance of Rs. 1,10,000 set on from year-2 lapses.
**Minimum.]