Aditi (Articles) (169 Points)
20 December 2019What if Employer doesn't collect any PF contribution from his employees but he pays out of his own hands? What are the implications? Does this come under 36(i)(va) or 43B?
CMA M.Keerthi chandra
(C.A FINAL STUDENT AND QUALIFIED C.M.A)
(561 Points)
Replied 20 December 2019
Actually 43B is not a section for allowing deduction separately.It is a section which allows a deduction up on actual payment of various expenses which are other wise allowed in the Act in other sections.Hence forth 43B has nothing to do with in the above case.Where as in section 36(i)(va) reads as "any sum received...".In the above case,there is no any sum received.It is just an out-pocket expense of employer,hence it cannot come in to play.
Thereby you may rely upon 37(1) which is meant for general deductions.
Aditi
(Articles)
(169 Points)
Replied 20 December 2019
Can you confirm that 36(i)(va) does not come into the picture? Also if that is the case then we are not required to mention it in Form 3CD. Am I right? @ CMA. M. Keerthi Chandra
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 20 December 2019
Kapadia Pravin
(17259 Points)
Replied 20 December 2019
CMA M.Keerthi chandra
(C.A FINAL STUDENT AND QUALIFIED C.M.A)
(561 Points)
Replied 20 December 2019
Regarding disclosure in 3cd in column No 20 It will be enough if shown in "Amount paid " and leave the column 'Amount collected" blank
Kapadia Pravin
(17259 Points)
Replied 21 December 2019
CAclubindia
