Gratity
This query is : Resolved
Rahul garg
(Querist)
08 August 2009
Although gratuty valuation is done by valuer but if valuer is not hired, how gratuty will be calculated?
M Prabhakar Menon
(Expert)
08 August 2009
To calculate gratuity u will need to use the valuation tables for getting a fair estimate any other method may not come close enough Its better to state in the notes on accounts that gratuity is not provided for and is treated on cash basis Your client/employer may consider the LIC Group Gratuity Scheme which is widely accepted by all including Income Tax dept.
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