Gratuity
This query is : Resolved
R. Arul Kumaran
(Querist)
29 May 2009
Dear all,
there is one private limited which want to pay one of its employee gratuity of Rs 7Lacs....
It has contract with LIC to payoff its gratuity....now the question is that how will this amount of gratuity will be paid...i mean will it paidf thru
LIC only...??
nd if yes then how tax will be deducted on this amount coz the tax exemption limit is only Rs 3.5 Lacs....
Thnks in advance
there is one private limited which want to pay one of its employee gratuity of Rs 7Lacs....
It has contract with LIC to payoff its gratuity....now the question is that how will this amount of gratuity will be paid...i mean will it paidf thru
LIC only...??
nd if yes then how tax will be deducted on this amount coz the tax exemption limit is only Rs 3.5 Lacs....
Thnks in advance
Vipul J. Bhavsar
(Expert)
29 May 2009
Tax will be deducted at source while paying the amount to the employee.LIC will pay the amount to company and in turn payment will be made by the company to the employee.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST input credit on commercial property
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- Gift to nri relatives residing in usa
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
