Provident fund paid after due date

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Chandra Kala online

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05 December 2024 Cooperative society paid provident fund after due date. The employee constribution allowed or disallowed under which section. Tax treatment as per Income Tax Act

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 December 2024 Under the Income Tax Act, 1961, the tax treatment for employee contribution to provident fund when paid by a cooperative society after the due date is governed by Section 36(1)(va).
As per this section, the employee contribution to provident fund is allowed as a deduction in the hands of the employer if it is paid before the due date specified under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.