Gratuity not paid
This query is : Resolved
Quick Summary
28 December 2021
A company has insured its liability towards Gratuity with LIC. In the FY 2013-14 LIC had disbursed Gratuity amount for a leaving employee but due to some reason the employer did not pay the sum to the employee & the employee never claimed it again. The Company has also formed a Trust to handle the Gratuity payments. What treatment should be given to this unpaid gratuity amount which is outstanding in the books of the Gratuity Trust of the Employee.
28 December 2021
Either adjust in the current year gratuity contribution from the company or refund it to the company.
29 December 2021
Thank you so much sir. If refunded to the company then it will be taxable in the hands of the company, right ?
29 December 2021
Yes you are right.....
Message likes :
1 times
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
- GST rate and HSN code for sale of racing horses
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
