Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2017 Year 2017 This

Provision for leave salary encashment and gratuity was made by ...


Provisions for Leave Salary and Gratuity Based on Actuarial Valuation Allowed as Tax-Deductible Expenses.

February 1, 2017

Case Laws     Income Tax     AT

Provision for leave salary encashment and gratuity was made by the assessee on the basis of actuarial valuation done by actuary and these are considered as ascertained liabilities and allowable expenses - AT

View Source

 


 

You may also like:

  1. Provision made for leave salary allowed as deduction - HC

  2. MAT computation u/s 115JB - Adjustment for computation of book profits u/s. 115JB on the ground that expenses are unascertained liability. - The Tribunal addressed each...

  3. Disallowance of provision for gratuity and leave encashment - in case of trust, the meaning ‘applied’ need not be construed as ‘spent’. It includes the necessary...

  4. The assessee bank made provisions for group gratuity and leave encashment by debiting expenses in its books, but these provisions were never treated as real expenses for...

  5. HC upheld ITAT's decision regarding insurance company's provision for uncertain liabilities. The court determined that IBNR (incurred but not reported) provisioning...

  6. Clause 19 of Income Tax Bill, 2025 restructures salary deductions by consolidating provisions from Sections 16 and 10 of Income Tax Act, 1961 into a comprehensive...

  7. Provision for leave salary – The deduction u/s 43B(f) cannot be allowed on the making of a mere provision unless the amount is actually paid - AT

  8. Clause 15 of Income Tax Bill 2025 restructures salary taxation provisions while maintaining core principles of Section 15 of ITA 1961. Key modifications include...

  9. Computation of MAT u/s 115JB - Addition towards delayed payment of gratuity and leave encashment - in computation of book profit only provision for unascertained...

  10. Assessee employed by Indian entity but sent on long-term international assignment to Singapore. Salary received in India for administrative reasons, but employment...

  11. The ITAT Kolkata addressed the disallowance of contribution to LIC Group Gratuity Scheme u/s. 36(1)(v) and the alternative claim u/s. 37(1). The Tribunal noted the delay...

  12. Salary terminology - computation of gratuity and leave encashment - definition of 'salary' is squarely and specifically applicable to section 10(10) and 10(AA)and,...

  13. TP Adjustment - Extraordinary one-time cost due to change in assumption for actuarial valuation - Since the actuary determined the amount of the provision to be created...

  14. TDS u/s 192 - commission paid to partner - considering the provisions of Explanation 2 to Section 15 of the Act which includes salary, bonus, commission or remuneration...

  15. Disallowing entire claim for leave encashment and post retirement medical benefit - the Assessee’s treatment of the liability in respect of the post retirement medical...

 

Quick Updates:Latest Updates