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Provident fund

This query is : Resolved 

05 September 2010 If provident fund payment due date is 15 may 2010 & payment made on 22 may. Then it wil b disallowed or it wil allow as exp.

06 September 2010 It will not be disallowed as a deduction under Income Tax Act.

This will just be reported under Tax Audit report

06 September 2010 After omission of second Proviso to Sec 43B, w.e.f 1.4.2004, deduction is allowable under first Proviso if payment is made on or before due date for furnishing return of income.




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