Gratuity provision and payment
This query is : Resolved
25 September 2011
Please clarify me about Gratuity under income tax act 1961. Is it allowed in P and L of Business and Profession or not
26 September 2011
As per Section 40A(7), provision for gratuity will only be allowed if it represents contribution towards an approved gratuity fund or for the purpose of gratuity that has actually become payable during the year.
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