CA Saravanakumar (Practice) (59 Points)
17 September 2011Dear professional collegues,
If the commissioner has not acted for application made for approval of gratuity fund for more than 1 year period even after follow up what is the consequence? Can it be deemed to have been approved and can the assessee is deemed to have complied with the provisions of section 40A(7) and avoid disallowance?
An Early reply is highly appreciated!! Thanks in advance.
Prakash
(Chartered Accountant)
(560 Points)
Replied 17 September 2011
No you can't Assume Deemed to have been approved
Atleast you might have deposited the sum with LIC or ony ther Insurer in a Separate Gratuity Scheme Account.
I hope you can opt for an appeal or Ask that fellow the reasons for not registering you under RTI Act
CAclubindia
