Whether employer contribution to PF not paid with in due date of furnishing the return of income, whether to be disallowed u/s 43B and related case law.
Thanx in advance
8 Replies
Manoj kashera
(Articleship)
(64 Points)
Replied 28 September 2011
| Originally posted by : Mahabaleshwara Rao | ||
 |
Whether employer contribution to PF not paid with in due date of furnishing the return of income, whether to be disallowed u/s 43B and related case law. Thanx in advance |
 |
Probably i don't know the actual section, but as per my view it is disallowed. whether it is case of employee contribution which is not paid by the employer than it is treated as income of employer
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 28 September 2011
As per provisions contained in section 36 of income tax act, employee's contribution to recognised pf is dissallowed if the same is nt deposited by the due date of relevant fund.. whereas employer's contribution is allowed subject to section 43B.....
However, Delhi High Court has passed a judgement in case of ---CIT v AIMIL LTD. that if the employee's contribution to PF is paid by the due date of filing of return u/s 139, then the same can be allowed to the assessee ..
In nutshell, as per HC judgement, 43B covers both employer's and employee's contribution.
So, the assessee can take advantage of this judgment.
SANYAM ARORA
(“It's hard to beat a person who never gives up.”)
(20173 Points)
Replied 28 September 2011
very nicely explained by sumit.........!!!!!!!!
@ ! @
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 28 September 2011
IF NOT PAID BEFORE DUE DATE OF FILING OF ITR U/S 139(1) DISALLOWED.
(Guest)
| Originally posted by : Mahabaleshwara Rao | ||
|
|
Whether employer contribution to PF not paid with in due date of furnishing the return of income, whether to be disallowed u/s 43B and related case law. Thanx in advance |
|
If all other condition are satisfied than if nt paid within the due date same will be allowed in the year in which payment is made.................
agree with sumit that is in case AIMIL Ltd Delhi HC has allowed that If employees contribution to PF is paid by the due date of filing of return u/s 139, then the same can be allowed to the assessee ..earlier it was disallowed if nt paid within the due date of RELEVENT FUND...
Manoj kashera
(Articleship)
(64 Points)
Replied 01 October 2011
pooja u are not wrong , it is allowed at the time of payment
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