Dear Freinds,
Is transfer to unapproved gratuity fund by the employer is liable for FBT? As in reply to the FAQ 38, CBDT has answered that only transfer to approved gratuity is not liable for the same.
PRAVEEN KUMAR DAGA
Khimji Kunverji & Co
Mumbai
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Transfer to Unapproved Gratuity Fund
Replies (3)
Yes, transfer to unapproved gratuity fund by the employer is liable for FBT.
no,payment of gratuity in unapproved gratuity fund by the employer will not attract f.b.t because this will taxable in the hands of employee,when he recives gratuity amount
it will not attract fbt .it will be taxable in the hands of employy Sec17(1)
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