TMI BlogProvision for GratuityX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Friends, When a company makes Provision for Gratuity, it is disallowed u/s 40A(7) of the IT Act 1961 and added back in IT computation. But after that, if the Company makes payment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gratuity out of that provision in subsequent year, under which section its allowed as deduction in IT computation ?? under Section 43B or 40A(7) or 37 ?? A plain reading of Section 43B do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es not include Payment of Gratuity out of the Provision. It only includes Contribution to Gratuity Funds. If we allow under 40A(7), there is no such column in IT Return to include such payment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... And Section 37 includes allowances of expenditures not covered by section 30 to 36. Please suggest. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whether you have got clarified in thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s query? If not please inform. - Reply By Bijay Shrestha - The Reply = No Sir. But I think it should be allowed u/s 43B. - Provision for Gratuity - Query Started By: - Bijay Shrestha Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - 27-3-2017 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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