Dear All,
Our Gratuity is funded and approved also. However we are getting our acturial valuation for the same for FY 2012-13. we have contributed some amount to LIC. Based on such valuation if any additional amount is liable over and above contribution, I will have to provide for the same.
My question is whether such additional provision should be claimed as deduction on payment basis under 43B before due of filing return or
whether I can cliam it even before such payment?
As per section 43B such amount should be paid before filing the ITR. Hence first you have to pay such amount and then you can claim as an expense in FY 2012-13.
Thanks...now I am confirmed that it is 43B item. and I can claim like any other 43B item before due date of filing on payment of the same.
Rohit KC Jain & Co
New Delhi
CA Inter
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MANUJ SHARMA AND COMPANY
Noida
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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RBSM Corporate Advisors Private Limited
Pune
CA
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CCI
Pro
CAclubindia
