Reason for deductions of PPF

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Reason for deductions of PPF
Query (Issue) Started By: - Poornima Gupta Dated:- 12-10-2023 Last Reply Date:- 12-12-2023 Income Tax
Got 1 Reply
Income Tax
Under the Section 80C of Income T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ax Act, 1961, there are deductions provided to assesses in respect of contribution to PPF Why government is promoting PPF and what is the benefit for the users? Reply By DR.MARIAPPAN GOVINDARAJAN: Th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Reply: PPF is labor welfare measure. It is savings on the part of the labor/employee. The PF Act provides to recover subscriptions from employee and also to contribute by the employer in certain pe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rcengaes. Many of the employers do not remit the amount recovered from the employees and also their contribution to the Department regularly and they made default. The contribution paid by the employe .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r is deductible expenses under the Income Tax Act. If the PF dues are not paid in time the same will not be allowed as deduction and they have to pay income tax on that portion also.
Discussion Fo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X