The Gazette of India
PUBLISHED BY AUTHORITY
PART II—Section 1
EXTRAORDINARY
No. 14] NEW DELHI, WEDNESDAY, MARCH 26,1969 CHAITRA 5, 1891
Separate paging is given to this Part in order that it may be filed
as a separate compilation.
MINISTRY OF LAW
(Legislative Department)
New Delhi, the 26th March, 1969/Chaitra 5, 1891 (Salza)
The following Act of Parliament received the assent of the President on the 26th March, 1969, and is hereby published for general informa- tion:—
THE PAYMENT OF BONUS (AMENDMENT) ACT, 1969
No. 8 OF 1969
[26th March, 1969.J
An Act further to amend the Payment of Bonus Act, 1965
BE it enacted by Parliament in the Twentieth Year of the Republic
of India as follows: —
1. This Act may be called the Payment of Bonus (Amendment) Act.
Short
title.
1969.
21 of 1963.
Amend-
ment of
section 5.
2. In the Payment of Bonus Act, 1965 (hereinafter referred to as the principal Act), to section 5, the following proviso shall be added, namely: —
"Provided that the available surplus in respect of the accounting year commencing on any day in the year 1968 and in respect of every subsequent accounting year shall be the aggregate of—
(a) the gross profits for that accounting year after deducting
therefrom the sums referred to in section 6; and
(b) an amount equal to the difference between—
fa THl OAZITTX OF INDIA KXTRAORDINABY [PART II—SIC. 1] gross proAti of the employer for the immediately preceding accounting year; and(ii) the direct tax, calculated in accordance with the provisions of section 7, in respect of an amount equal to th" gross profits of the employer for such preceding accounting year after deducting therefrom the amount of bonus which the employer has paid or is liable to pay to his employees in accordance with the provisions of this Act for that year.".
3. In the principal Act, In section 7, for the words, brackets, letter and Amend* merit of ••ction 7.
figure "For the purpose of clause (c) of section 6, any direct tax payable by the employer", th" words "Any direct tax payable by the employer" •hall be substituted.
2 of lOflH.
4. (1) The Payment of Bonus (Amendment) Ordinance, 1969, Is hereby repealed-
Repeal
and
•avinf.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act as amended by the said Ordinance shall be deemed to have been done or taken under the principal Act aa amended by this Act as if this Act had come into force on the 10th day of January, 1080.
V. N. BHATTA,