28 October 2014
Hi, in case the employees contribution to PF for the month of January 13 is paid in the month of June13(before filling the return of income), can the expense be allowed as deduction for the P.Y.12-13?. Thanks in advance
28 October 2014
Employees' contribution is an income in the hands of the employer-assessee as per section 2(24)(x)
The same is an allowable expenditure, provided the payment thereof is made on or before the due date prescribed under the relevant PF scheme, as per provisions of section 36 (1) (va).
CAclubindia
