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Gratuity

This query is : Resolved 
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03 September 2017 we have a LIC gratuity fund for our gratuity liabilities of the company...


We accrue gratuity liability at the year end on the basis of Actuarial report. In current year, the situation was we didn't got any gratuity expense in the P&L but it's reversal i.e.gratuity expenses = income

What is the treatment of such gratuity income

As normally what we do is we disallow the expense and take benefit of 43B on payment basis .but since it is income would we have to tax it..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 September 2017 The income is of LIC fund tax applicable on it.
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