LIC Group Gratuity Scheme

SC verdict: Payments To LIC Towards Group Gratuity funds is allowed

CIT vs. Textool Co. Ltd (Supreme Court) Ratio of the Case: Though section 36(1)(v) requires a direct payment to a gratuity trust fund, payments made to the LIC Group Gratuity Scheme for the benefit of the employees is also allowable. CLR Editorial Notes: The assessee in question had set up a gratuity fund which was… Read More

Tags: AppealCITHonIncome taxIndiaLIC Group Gratuity SchemeSupreme CourtThe Honourable

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