Dear Saxena,
I am not able to understand why this question arises when whatever pay-outs have to be done through the Accounts/Finance department of an organization. It is the duty of the Accounts department to ensure TDS is effected in payments exceeding the limits under the Income Tax Law. Of course, the Accounts personnel may not be aware of the terminal benefits like gratuity exempted from income tax up to the statutory limit and here comes the effective co-ordination between the HR and Accounts personnel. Therefore, no question of comparative degrees of importance of approval in the matter of full and final settlement of employees.