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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Allowability of contribution to Group Gratuity Policy of LIC of ...

Case Laws     Income Tax

August 7, 2019

Allowability of contribution to Group Gratuity Policy of LIC of India - the trust has not been approved by the Department - the assessee is entitled for deduction for payment of group gratuity to LIC as it has has no control over the funds contributed and it is receiving the gratuity payment directly from the LIC as per the scheme which is paid to the employee on happening of the event

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