Taxation of gratuity fund
This query is : Resolved
28 January 2016
Dear,
A gratuity fund is registered as an Association of Persons (AOP).
What will be the tax treatment of incomes of this fund? Eg. Savings Bank interest.
Also advise me whether such fund can claim the benefit of section 10(23AAA)- Income of fund established for welfare of employees since gratuity fund has not been specified U/s.10 of the Act.
A gratuity fund is registered as an Association of Persons (AOP).
What will be the tax treatment of incomes of this fund? Eg. Savings Bank interest.
Also advise me whether such fund can claim the benefit of section 10(23AAA)- Income of fund established for welfare of employees since gratuity fund has not been specified U/s.10 of the Act.
28 January 2016
Form a gratuity trust and register it with Commissioner of Income tax and follow the rules income will be exempted.
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