Poonawalla fincorps
Poonawalla fincorps

Audit of gratuity trust under income tax act

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2012 There is employees gratuity trust. The same is exempt from income tax under Part C of the Fourth Schedule of the Income Tax Act, 1961. The exemption certificate doesnt have pre condition for audit or submission of the report. Also fourth schedule is silent about the audit of a gratuity trust.
Can anyone tell me under which section the trust has to be audited and which form to be used for audit report.
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CA. Nitin Mahajan

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CA. Nitin Mahajan (Expert)
29 October 2019 Did you find a reply to your query? I am looking for same solution now.

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