Dear all,
It is practice to provide gratuity provision in accounts every year to ease the gratuity payment by the management. The provision is approvable by the Income Tax Authorities if the same one is based on the actuarial valuation done by the approved valuers. For this, you may refer the following cite;
http://www.actuarial-valuation.com/
It is practice to provide gratuity provision in accounts every year to ease the gratuity payment by the management. The provision is approvable by the Income Tax Authorities if the same one is based on the actuarial valuation done by the approved valuers. For this, you may refer the following cite;
http://www.actuarial-valuation.com/