21 October 2010
can some describe me provision for gratuity and provident fund. By combined reading of section 36(1)(iv),36(1)(v) together with section 40(A)(7) and 40(A)(9)
please give your own explanation in own language.dont paste section wordings. Thanks in advance
22 October 2010
Sec 36(1)(iv) says about amountlimit which will be deductable of contribution to recognised PF and approved superannuation fund.
Sec 36(1)(v) says limit of amount which will be deductable for contribution towards approved gratuity fund.
40(A)(7) says Gratuity will be deductable if it is deposited in previous year.
40(A)(9) provides the provision about restriction on contribution by emplyoer to non-statutory fund, this is not related to statutoru PF or Gratuity as per the act which has been covered u/s 36
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