Employee Gratuity Trust related

This query is : Resolved

Satheeshgowda10 (Querist)
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14 November 2019 Dear Sir,

Please let me know, If existing Employee Gratuity Trust, if not having 2 trustees in between. what will be exact consequence as per income tax.

Case is, while carting the trust employer appointed 2 trustees. But, in between 1 Trustee left and after few month new trustee appointed.

Please let me know the consequence

Thank you,
Satheesh kumar P

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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30 May 2020 There is a requirement of at least minimum two trustees as per act. I think it should not cause any issue if one trustee is left and another is appointed in place as long as these is no long duration in between. The AO can be explained the circumstances of the case to consider based on merits of case to case basis.

Nitin H

Nitin H (Expert)
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07 August 2022 For any assistance required with respect to Gratuity trust, superannuation trusts or any employee benefit schemes, do connect on below mentioned email id a1consultancyservices@yahoo.com. We are a 9 year old firm entrusted by many indian and multi national companies, we are specializing in the field of corporate employee benefits.

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