can i claim deduction on account of contribution to non recognized provident fund under section 37(1).
1 Replies
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 24 October 2010
Dear Linesh,
Refer Section 40A(9)
Disallowance in respect of contibutions to non-statuatory funds
No deduction shall be allowed in respect of any sum paid towards setting up or formation of any fund,trust or socirty etc for any other purpose which is not approved or recognised.
Only sum contributed by an assessee as an employer, towards an approved gratuity/PF/Supperannuation fund shall be allowed as a deduction.
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
Related Threads
CAclubindia
