Reversal of provision for gratuity.

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vaibhav (Querist)
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20 August 2011 whether Reversal of provision for gratuity is liable to income tax,? Plz support your answer with the case law.
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vaibhav

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 August 2011 When making actual payment of gratuity is allowable expenses under Income tax

vaibhav

vaibhav (Querist)
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22 August 2011 yaar ramesh i know that gratuity is allowed on payment but wht about the reversal of provision for gratuity.(and the same has been credited in P&L account) .
support your answer with case law

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 August 2011 One thing please clarify, when gratuity allowed only on payment not on provision, if you are reversing provision without paying what will income tax effect, since not allowed earlier (since provision ) then even you are reversing and credit back will not effect your book profit & Income tax computation

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