income tax ( employee contributions towards PF)
This query is : Resolved
22 September 2008
Whether the employee contribution towards PF deducted by the employers will be treated as income of the employer if deposited late? is there any case law regarding this fact?
22 September 2008
It cannot be treated as income of the employer; but it involves interest and penalty under PF Act.
Will you call it as income - if service tax collected and not paid to the Government.
The treatment is similar to like that.
God Bless U
Will you call it as income - if service tax collected and not paid to the Government.
The treatment is similar to like that.
God Bless U
22 September 2008
No. No need to refer case law.
22 September 2008
Zeeshan employer contribution towards PF is not a part of your salary .Its emploers contribution of your retiral benefit
23 September 2008
According to Sec.36(1)(va) of the Indian Income Tax Act, 1961;
Employee's Contribution to any Fund will be treated as income of the person u/s 2(24)(x) if not paid within the due date of that particular statute.
However, there is a case law which states that contribution will not be added to income if it is paid " within due date of filing of return"
Employee's Contribution to any Fund will be treated as income of the person u/s 2(24)(x) if not paid within the due date of that particular statute.
However, there is a case law which states that contribution will not be added to income if it is paid " within due date of filing of return"
24 September 2008
Thanks Nitin
and mr.amit, mr. chakrapani warrier and mr. visu please refer the answer of mr. nitin.
and mr.amit, mr. chakrapani warrier and mr. visu please refer the answer of mr. nitin.
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