PAyment to LIC for Gratuity
This query is : Resolved
12 August 2010
What id the treatment for payment made by a company to a gratuity fund by LIC in which the companny would pay some amount in the gratuity fund every year on tha basis of calaulation made by LIC and whenever libility for gratuity arises, LIC would pay the same on behalf of the company. Is such expense allowed under income Tax act??
12 August 2010
Yes.. that is allowed under Income Tax.
12 August 2010
43(B)
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