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of <h1>Amendment to Section 40A: Deductions for Employee Gratuity Provisions Limited to Approved Funds or Due Payments.</h1> Section 40A of the Income-tax Act is amended to replace sub-section (7) effective April 1, 2000. Under the new sub-section, deductions for provisions made by an assessee for employee gratuity payments upon retirement or employment termination are disallowed, except for contributions to an approved gratuity fund or payments of gratuity due in the previous year. It clarifies that if a gratuity provision was previously deducted, any payment from it towards an approved fund or as gratuity cannot be deducted again in the computation of income for that year.
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