alleryStart learning →A bonus issue is barred if the company defaulted on which statutory dues?
ACustoms duty arrears
BMunicipal property tax
CProvident fund and gratuity
DTrade licence fees
Answer & Solution
Correct answer: C. Provident fund and gratuity
Section 63(2)(d) bars bonus capitalisation if employees' provident fund, gratuity or bonus dues are in default.
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