For consultation @ : +91-9211637063 | : firstname.lastname@example.org
Our Firm is providing End to End Consultancy and Support Service to Public Sector, Private Sector and Multinational companies forming Approved & Registered Gratuity Trust as per Part C of The Fourth Schedule of Income Tax Act 1961 to get Tax Benefits under Section 36 (1) (v) of the Income Tax Act 1961, which is not available to when company make provision of Gratuity Liability in the Balance Sheet under “Pay as you go Option” (Refer Section 47A (7) of Income Tax Act 1961). We have almost 11 years of experience in providing above Consultation and related Support Services. The details of Consultancy and End to End Support Services provided us with liaison of Various Consultants/Professional is as under: -
1. Consultancy & End to End Support Services: -
A. Formation of a New Approved Irrevocable Gratuity Trust.
B. Investment of Trust Money as per Income Tax Rules 1962.
C. Drafting of Board Resolutions Trust Deed, Trust Rules, Applications.
D. Approvals of Trust in terms of Part C of Schedule IV from Income
Tax Department in following cases :-
a. Approvals for New Gratuity Trust or Group Gratuity Scheme
b. Approvals for Change in Trust Deed
c. Approvals for Change in Trust Rules
d. Approvals for Change in Object of Trust
e. Approvals for Change in Trustees
f. Approvals for winding up of Trust due to winding up of the Company
g. Approvals for amalgamation with another fund due to
merger/acquisition of the Companies
Normally following steps are involved in the Formation of “A Registered and Approved Gratuity Trust”, the details for the same is given below: -
• Assessment of Gratuity Liability
• Board Resolution for an Approved Gratuity Trust,
• Selection and Appointment of Trustees,
• Selection of Members/Beneficiaries for the Gratuity Trust,
• Selection of Directors as beneficiaries of the Trust as per Income Tax Rules 1962(a)
• Drafting of Trust Deed & Trust Rules as per Income Tax Act 1961(a) and Income Tax Rules 1962(a),
• Applying for PAN/TAN of Trust,
• Opening of Gratuity Trust Bank Account in Scheduled Bank
as mentioned in
• Investment Decision for Trust Money based on comparative study of ROI and Recurring Expenses.
• Application for Approval of Registered Gratuity Trust.
• Appeal to CIT If approval of Gratuity Trust is refused.
2. Our Team:-
Our following Officials/Partners/Consultants are involved in execution of the assignment as mentions in 1 above: -
I. Mr. Sushil Kumar Dubey- Legal Consultant (A Supreme Court Lawyer with more than a decade of experience in handling Legal Issues of Gratuity Trust).
II. Mr. Abhishek Agrawal - Taxation Consultant (A Chartered Accountant with more than a decade of Experience in Accounting & Income Tax Issues of Gratuity Trust)
III. Mr. Vinod Kumar - Partner (A Consultant with more than 20 years of Experience in handling Income Tax Approval Related Issues of Gratuity Trust).
IV. Official of Insurance Company present in Metro Cities of India to handle the Investment related Issues and Actuarial Valuations
V. Actuarial Consultant - Actuarial Consultants present in Metro Cities of India for getting Actuarial Valuations Reports/Certificates needed clients in following events:
I. For Initial Funding Assessment of Gratuity and Leave Encashment Liability by Trustees,
II. For assessment of Accrued Liability for Gratuity and Leave Liability in following events: -
a. Transfer of Employees within a Group Company.
b. Amalgamation of 2 companies
c. Demerger of company
d. Winding of Company
III. For Annual Compliance of Balance Sheets as per Actuarial valuations Reports/Certificates are also required by my clients for Gratuity Plan in 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)
VI. Merchant Bankers Consultant present in Metro Cities of India for getting Assets Value Certification needed by Gratuity Trust where Investment is managed by the Trustees Privately.
VII. Our Office Staff – Ms. Kshama Shukla (Manager), Mr. Rajesh Kumar (AM) and Mr. Arun Kumar (AM)
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
Our Consultancy Services requires involvement of various Professionals and they have to abide by the various rules regulations of the Regulating Authorities. We also undertake any assignment for providing Support Services where Liaison with these Professionals on behalf of our clients after having necessary authorization and approvals for providing our Support Services for Actuarial Valuations and Related Works My clientele is 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. Companies Listed in Indian Stock Exchange
f. Companies Listed in Foreign Stock Exchanges
g. Multinational Companies operating in India