10 November 2008
Sir, our Gratuity Fund under rule 2(1) of part 'c' of 4th schedule of IT Act is approved one. What is the requirement of filing annual returns of this trust. this trust is wholly owned vy a pvt ltd co. whose income are regularly assessed. like our co. ABC pvt ltd & its gratuity trust is ABC Employees gratuity trust. so the IT regulation of accounts & returns of this trust? Kindly reply urgently Subhash
11 November 2008
Not exactly owned by company. Its a trust whose trustees are employees of a pvt ltd company & this trust is looking after the gratuity fund for the employees of this pvt ltd company only. This fund is being managed by a pvt fund manager (ICICI)& the fund is approved under income tax act.
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