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PAyment to LIC for Gratuity

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(Querist)
12 August 2010 What id the treatment for payment made by a company to a gratuity fund by LIC in which the companny would pay some amount in the gratuity fund every year on tha basis of calaulation made by LIC and whenever libility for gratuity arises, LIC would pay the same on behalf of the company. Is such expense allowed under income Tax act??
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
12 August 2010 Yes.. that is allowed under Income Tax.
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Ankit

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Ankit (Querist)
12 August 2010 under which section??
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
12 August 2010 43(B)
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