Disallowance u/s 36

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Supreeth Sharma (Querist)
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31 August 2009 What are the consequences if statutory payments such as employees' contribution to PF and ESI are not remitted within the due dates of the relavant statute?

If the above mentioned contribution is disallowed for IT purpose, is there any way of proving the reason for delay in remittance, and can the same be disallowed subsequently?

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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31 August 2009 Yes it is disallowed

chetan soni

chetan soni (Expert)
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31 August 2009 it is actually not disallowed but will be treated as income u/s 2(24)(x)in the hands of employer.

The same also needs to be reported under tax audit report.

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