Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the ...

Income Tax

October 12, 2021

Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the employees‟ contribution is not deposited by the due date prescribed under the relevant Acts and is deposited late, the employer not only pays interest on delayed payment but can incur penalties also, for which specific provisions are made in the Provident Fund Act as well as the ESI Act. Therefore, the Act permits the employer to make the deposit with some delays, subject to the aforesaid consequences. Insofar as the Income Tax Act is concerned, the assessee can get the benefit if the actual payment is made before the return is filed - AT

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Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the ...

Income Tax

October 12, 2021

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