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Indian and multinational companies can save up to 32.5% in taxes by creating a CIT-approved gratuity fund under an irrevocable trust, as per Sections 36(1)(v) and 10(25)(iv) of the Income Tax Act, 1961. Without such a trust, gratuity provisions are disallowed under Section 40(a)(7)
This article is prepared to help the company officials (I.E. HR, Accountant, Finance Managers, & Company Secretary) involved in preparation of Actuarial Inputs for Actuarial Valuations in compliance of AS 15 (Revised 2005) & IndAS 19 to understands various technical points while preparing the Inputs.
How CA, CS, Auditors and Directors can identify compliance of Legal and Accounting Provisions of Gratuity applicable on Private Schools, Private Colleges, Autonomous Bodies, NGO's, Societies & Indian/Multinational Private Companies?
This Article is an attempt to describe about requirement of Actuarial Valuations for compliance of Indian Accounting Standard 19 - IndAS 19 by Indian Listed Companies, NBFC's & Banks.
This article is an attempt to elaborate the difference between Statutory provisions applicable to Companies under Existing Payment of Gratuity Act 1972 (Amended) & The Social Security Code 2020 effective from 01.04.2021.
Why of Actuarial Valuation is required for Accounting of Gratuity Benefits in compliance of IndAS19 & AS 15 (Revised 2005) by Indian Public, Private and Multinational Companies ?
This article is prepared to create awareness among-st CA's, Accounting/Finance Personnel & Management of Schools about Supreme Court Judgment dated 07.03.2019 about Eligibility of Teachers in Schools for Gratuity Benefits under the 'Payment of Gratuity Act 1972'.
This article is an attempt to describe about requirement of Actuarial Valuations for compliance of International Accounting Standard 19 - IAS 19 by Indian MNC&#...
This article is prepared to create general awareness about requirement of Actuarial Services for Accounting for Defined Benefit Plans & Components of Actuarial Valuation Reports amongst Professionals/Company Personnel involved in Finalization of Financial Statements.
This article is attempt to give more clarity about the Gratuity Benefits, Factors increasing the quantum of Gratuity Benefits Exponentially and Benefits of Compulsory Insurance/Approved Gratuity Trust for Gratuity Benefits of Employees for Companies with Employee Strength 10 or More.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Sri Aurobindo Gnostic Centre of Education
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