|
Balance
Sheet Date |
Provision in the Balance as per Accounting
Standard 15 (Revised 2005) & IndAS 19 |
Taxation Benefits as per Section 47A (7) of
Income Tax Act 1961 for Gratuity Provision in BS (i.e. Provision is
disallowed) |
Taxation Benefits as per Section 36 (1) (v)
of the Income Tax Act 1961 (i.e. Contributions into an Approved and
Registered Gratuity Trust is Allowed as deductible expense) |
|
31.03.2013 |
`66,78,624/- |
NIL |
`66,78,624/- |
|
31.03.2014 |
`79,46,809/- |
NIL |
`12,68,185/- |
|
31.03.2015 |
`1,00,92,447/- |
NIL |
`21,45,638/- |
|
31.03.2016 |
`1,26,15,559/- |
NIL |
`25,23,112/- |
|
31.03.2017 |
`1,53,90,982/- |
NIL |
`27,75,423/- |
|
31.03.2018 |
`1,84,69,179/- |
NIL |
`30,78,197/- |
|
31.03.2019 |
`2,17,93,631/- |
NIL |
`33,24,452/- |
|
31.03.2020 |
`2,72,42,039/- |
NIL |
`54,48,408/- |
There are many more benefits of creating an Approved and Registered Gratuity Trust. The establishment of an Approved and Registered Gratuity Trust requires in-depth knowledge of various rules/regulations and expertise. We offer Consultancy and Support Services in following matters: -
Consultancy Services for: -
1.
Formation of a New Approved
Irrevocable Gratuity Trust.
2.
Investment Advisory for Trust
Money Investment as per Income Tax Rules 1962.
3.
Support Services for Drafting
of Board Resolutions, Trust Deed, Trust Rules, Application for Approval from
CIT.
4.
Documentation Support
Services for Approvals of Trust in terms of Part C of Schedule IV from Income
Tax Department in following cases: -
o Approvals
for New Gratuity Trust or Group Gratuity Scheme.
o Approvals
for Change in Trust Deed
o Approvals
for Change in Trust Rules
o Approvals
for Change in Object of Trust
o Approvals
for Change in Trustees
o Approvals
for winding up of Trust due to winding up of the Company
o Approvals for amalgamation with another fund due to merger/acquisition of the Companies
Normally following steps are involved in the Process of Formation
of “A Registered and Approved Gratuity Trust”, the details for the
same are given below:
o Assessment of Gratuity
Liability by taking an Actuarial Report from Actuary,
o Board Resolution for an
Approved Gratuity Trust,
o Selection and Appointment
of Trustees,
o Drafting and Registration
of Trust Deed & Trust Rules,
o Applying for PAN/TAN of
Trust,
o Investment Decision for
Trust Money,
o Application for Approval of Registered Gratuity Trust.
We have a Team of following Consultants with Decades of Experiences in their field and present Major Cities of India for execution of the assignments in timelines stipulated by our client: -
o Legal
Consultants - For Legal Issues involved
in Formation of Gratuity Trust
o Taxation Consultants
- For Accounting Related Issues of Gratuity Trust
o Income Tax Consultants
- For Documentation of CIT Approval of Gratuity Trust.
o Investment
Consultants - For Gratuity Trust Money Investment
Advisory.
o Actuarial Valuation
Consultants - For Actuarial Valuation Reports/Certificates
o Merchant
Bankers Consultants – For Assets Value
Certification for Investment of Gratuity Trust
Support & Liaison Services: -
We have 11 years of experience
in providing Support Services for preparation of Inputs for Preparation of
Actuarial Valuation Reports/Certificates required by Indian, Multinational
& NBFC Companies required in following events: -
(i). For
Initial Funding Assessment of Gratuity and Leave Encashment Liability by
Trustees,
(ii). For
assessment of Accrued Liability for Employee Benefit Plans (i.e. Gratuity,
Leave Encashments, Pension, PRMB etc.) in
following events: -
a. Transfer of Employees
within Group Companies.
b. Amalgamation of 2 Companies.
c. De-merger of Company.
d. Winding up of Company.
(iii). For Annual Audit of Balance Sheets of Gratuity Trust as per Actuarial valuations Reports/Certificates are also required by clients for compliance of following Accounting Standards: -
a. For Compliance Para 120 (l)
of AS 15 (Revised 2005)
b. For Full Compliance
Para 120) of AS 15 (Revised 2005)
c. IndAS 19
d. IAS 19 (Revised 2011)
e. US-GAAP
In past 11 years we have provided our Consultancy and Supports
Services to many reputed organizations spread in all sectors of Indian Economy
and the main categories are: -
a. SME Clients
b. Schools/Educational
Institutes
c. Non - SME
Clients
d. Unlisted
Companies
e. NBFC
f. Companies Listed in Indian
Stock Exchange
g. Companies
Listed in Foreign Stock Exchanges
h. Multinational Companies
operating in India
To avail our Consultancy Formation of Gratuity Trust &
Support Services for Preparation of Inputs for Actuarial
Valuations in compliance of AS 15 (Revised 2005), IndAS 19 & IAS 19
(Revised 2011) - IFRS, you may send your
requirement at tikaramchaudhary@gmail.com. You may also purchase my e-book
on the Technical and Analytical Points involved in process of "Formation
of An Approved and Registered Gratuity Trust"
Tika Ram Chaudhary
Gratuity Trust Fund Consultant
(Corporate Consultant with more than 11 Years of experience in
providing End to End Support Services to Indian and Multinational Companies
for Formation of Gratuity Trust, Formed to gain Tax Benefit available for
Companies under Section 36 (1) (v) of Income Tax Act 1961 & Specialized
Support Services for Preparation of Inputs for Actuarial Valuations in
compliance of AS 15 (Revised 2005), IndAS 19 & IAS 19 (Revised 2011) - IFRS
required by Gratuity Trust of Indian Companies)
Registered Office Address: R
11, F/F, R Block, Vikas Nagar, Uttam Nagar, New Delhi -110059
Mobile Number: 9211637063
Email Id: tikaramchaudhary@gmail.com
Website : www.gratuitytrustfundconsultant.com
Tax Guru Profile: https://taxguru.in/author/tikaramchaudhary@gmail.com/
Caclubindia Profile: https://www.caclubindia.com/profile.asp?member_id=1446582
LinkedIn Profile: https://www.linkedin.com/in/tika-ram-chaudhary-a5727848/
Blog: http://gratuitytrustfundconsultant.blogspot.com
Google Business Listing: https://gratuity-trust-fund-consultant-in-delhi-ncr.business.site/
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