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what are procesures for provision of gratuity whether is it

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(Querist)
24 September 2008 what are procesures for provison of gratuity whether is it allowable or not
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Ravikumar.G

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Ravikumar.G (Expert)
24 September 2008 Any provision for gratuity in the books of accounts shall not be allowed as a deduction unless :-
1. the provision is made for any contribution towards an approved gratuiry fund or,
2. the provision is for gratuity, which has become due and payable during the PY.
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Ravikumar.G

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Ravikumar.G (Expert)
24 September 2008 As per Sec 43 B any sum payable by an employer by way of contribution to PF, Superannuation fund or other fund for the welfare of employees,allowable only if the payment made either during the relevant PY or on or before the due date of filing of return u/s 139(1).
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