Provision for gratuity
This query is : Resolved
16 January 2021
Hi all,
Provision for gratuity is made in the books of accounts on the basis of actuary valuation. Whether it is allowed as a deduction under the Income tax Act?
Thanks in advance.
Provision for gratuity is made in the books of accounts on the basis of actuary valuation. Whether it is allowed as a deduction under the Income tax Act?
Thanks in advance.
CA R SEETHARAMAN
(Expert)
16 January 2021
It will not be allowed as deduction funding is required.
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