Gratuity to LIC
This query is : Resolved
12 October 2019
companies is paying premium to LIC for gratuity liability covering whether on part payment to LIC is covering for full liability of gratuity
12 October 2019
The payment to be made to Gratuity fund must equal to actuarial valuation. The companies are making provision of gratuity as per actuarial valuation in books. If company is paid less than the provision , the difference between provision and actual will be disallowed in Memo while preparing Income Tax return by auditors.
The companies should have balance in Gratuity fund as per the liability worked out by actuarial valuation. If the companies are paying partial amount, then it is the decision of management of the company .
The companies should have balance in Gratuity fund as per the liability worked out by actuarial valuation. If the companies are paying partial amount, then it is the decision of management of the company .
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
