Excesmption on gratutity trust fund
This query is : Resolved
Ashish Kumar Pandey
(Querist)
24 March 2015
dear Sir,
please confirm:- if company make a gratutity trust fund and paid to annual premium to a insurance company after that company generate the interest on his investment, it is taxable to income tax or not and also tell me registration of grattity trust with income tax compulsory or not and if compulsory then return of income tax filed by company or not.
please confirm:- if company make a gratutity trust fund and paid to annual premium to a insurance company after that company generate the interest on his investment, it is taxable to income tax or not and also tell me registration of grattity trust with income tax compulsory or not and if compulsory then return of income tax filed by company or not.
CA R SEETHARAMAN
(Expert)
24 March 2015
Registration of gratuity trust with income tax is compulsory. Then only the interest received is exempted. Since interest income from recognized insurance company is exempted no need to file return.
Rupesh Jain
(Expert)
24 March 2015
if you registered your trust with incometax deptt. then your trust income will exempt other wise taxable.
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