WebOnce the Trust Deed and Trust Rules of the Gratuity Trust are registered then Trustees apply for PAN and TAN of the Gratuity Trust. After getting the PAN and TAN of the … WebMay 18, 2024 · An approved gratuity fund has been accorded a separate legal entity under the Income Tax Act, 1961. The trust would have following characteristics- The trust …
RECOGNISED PROVIDENT FUNDS, APPROVED SUPERANNUATION FUNDS, APPROVED ...
WebJan 24, 1991 · According to him, the provision for gratuity on the basis of certificate of actuary relating to the assessment year 1976-77 was only Rs. 9,63,500. This was … WebMar 24, 2024 · (b) Nothing in clause (a) shall apply in relation to any provision made by the assessee for the purpose of payment of a sum by way of any contribution towards an approved gratuity fund, or for the purpose of payment of any gratuity, that has become payable during the previous year. krefeld business team
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WebDec 25, 2009 · It is common ground that assessee company's gratuity fund, viz., the Textool Company Ltd. Employees Group Gratuity Fund was approved by the Commissioner of Income Tax, coimbatore, w.e.f. 25th February, 1983. The Assessing Officer allowed a deduction of Rs. 36,22,224/- under Section 40A (7) of the Act. (the … WebJan 25, 2024 · The CIT (A) held that payment of gratuity is covered in section 36 (1) (v) of the Act which states that any sum by the assessee by way of contribution towards an approved gratuity fund under an irrevocable trust is an allowable deduction but any such contributions are subject to the restrictions placed in section 40A (7) (b) of the Act. WebFeb 9, 2024 · In District Co-operative Bank vs. Income Tax Officer (ITO), Visakhapatnam bench of Income Tax Appellate Tribunal (ITAT) recently held that the payment of … maple ridge mobile home park huntington beach