The company was paid gratuity to its employees, pl. give suggestions to How much gratuity amount is allowable to company p&L account.
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Quick Summary
This discussion explores the allowable amount of gratuity that a company can claim on its Profit & Loss account. It references Section 36(v) of the Income Tax Act and Rules 103 & 104. A key consideration is whether the gratuity is received upon retirement or during service, as this impacts its deductibility.