S. 36(1)(v): Payment To LIC Towards Group Gratuity fund Allowable: Supreme Court

CIT vs. Textool Co. Ltd (Supreme Court) Though s. 36(1)(v) requires direct payment to the gratuity trust fund, payment to the LIC Group Gratuity Scheme is also allowable The assessee set up a gratuity fund which was duly approved by the CIT. However, instead of making payment to the f...read more