Bussiness and prifession
This query is : Resolved
20 August 2011
is provision for gratuity is allowable expense???
20 August 2011
Provision is not allowed as an expense.
However contribution towards approved gratuity funds is allowed as expense. Payment to approved fund is compulsory for getting the deduction.
However contribution towards approved gratuity funds is allowed as expense. Payment to approved fund is compulsory for getting the deduction.
21 August 2011
I agree with the expert. You have to make the provision on actuarial basis for claiming the deduction
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