Answer / r.chandrasekaran

Gratuity is calculated as 15 day's salary (7 days in the case of employees of seasonal establishments)based on the salary last drawn for every completed year of service or part thereof in excess of 6 months.

Gratuity is taxable u/s.10(10) of I.T.Act, 1961 to the extent of Rs.3,50,000/- or gratuity actually received, whichever is less.

At the time of depreciation run we selected actual dep key is 5% but we taken 7% so the depreciation was posted wrongly how to rectify it?

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The purpose of accommodation bill is_______ (a) To finance actual purchase or sale of goods (b) To facilitate trade transmission (c) When both parties are in need of funds (d) None of the above

1 Answers   Infosys,

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