ReePrime
CA IPCC PGBP 68   Provision for Gratuity    Section 40A7

Hosted by Dailymotion. For legal issues report at the Copyright Center, report us on DMC, or use the Instant Removal tool.

CA IPCC PGBP 68 Provision for Gratuity Section 40A7

A
Arinjay Jain Academy

17 Views • Jul 10, 2015

Description

Provision for gratuity is generally not allowable as a deduction except in the following cases :-

Payment towards an approved gratuity fund - Subject to Sec. 43A
Contribution to unapproved gratuity fund is not allowed as a deduction
Provision for gratuity actually became payable during the relevant previous year

Premium paid for policy taken from LIC for gratuity payments of employees, is allowed u/s 37(1).