Accounts
This query is : Resolved
J RAVI SHANKAR
(Querist)
26 August 2009
Dear Members
Iam working a limited company. We paid Rs.21,00,621/- towards preium to under Met Life Group Gratuity Scheme. The details as below:
1. Rs.27,315/- towards Risk Premium.
2. Rs.2,59,850/- towards Current Service cost and
3.Rs.18,13,456/- towards pas service liability.
4. The Gratuirty provision outstandint as on 31.03.2009 Rs.15,62,567/-.
Plese advise me treatment in books of accounts.
Iam working a limited company. We paid Rs.21,00,621/- towards preium to under Met Life Group Gratuity Scheme. The details as below:
1. Rs.27,315/- towards Risk Premium.
2. Rs.2,59,850/- towards Current Service cost and
3.Rs.18,13,456/- towards pas service liability.
4. The Gratuirty provision outstandint as on 31.03.2009 Rs.15,62,567/-.
Plese advise me treatment in books of accounts.
M Prabhakar Menon
(Expert)
26 August 2009
You seem to have paid more than your estimated liability of Rs15.63 lacs be prepared to satisfy the Assessing Officer's query.Follow AS 15 issued by ICAI
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