Gratuity Fund under rule 2(1) of part 'c' of 4th sch.
This query is : Resolved
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
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
10 November 2008
How can a trust be owned by a company? Please let us have the constitution clearly specified.
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.
i hope i am clear to you.
kindly reply ASAP.
Thanks
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.
i hope i am clear to you.
kindly reply ASAP.
Thanks
11 November 2008
The trust, has to maintain accounts it should be audited and file incometax return annually.
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