Gratuity payment
This query is : Resolved
02 April 2012
Dear Sir
we are not making provision for gratuity in our balance sheet. But this year we paid gratuty to one of our retiring employee.
my question is can we expense out whole payment in this year?
we are not making provision for gratuity in our balance sheet. But this year we paid gratuty to one of our retiring employee.
my question is can we expense out whole payment in this year?
02 April 2012
Yes. But as per AS 15, the Company has to make provision for Gratuity. If the number of employees are not material, provision can be made on estimation basis. Else, provision has to be made based on Actuarial Valuation.
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
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
