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Please Help: Tax Liability on payment of Gratuity

Posted Date : 06-Mar-2024 , 04:52:32 pm | Posted By: Akhilesh

Category : Income Tax | Answers : 0| Comments : 1| Hits: 1372

If Pvt sector Employees after completing the period of 5 years, resign from the organisation then what would be the taxliability on payment of gratuity, if there is no approved fund. Company is just making the provisioning on gratuity in the books of accounts and not creates any gratuity fund in any bank or institutions

Comments
Posted By : P SARAVANAN 06-Mar-2024, 05:22:46
There is no any restriction for organization to pay gratuity to its employees who resigned after continues period of employment 5 years even if the company is not covered under Gratuity act. still he can get exemption upto Rs.20 lakhs as per Income Tax Act.
 

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