Belated deposit of employees’ contribution towards the EPF and ...
Income Tax
October 17, 2022
Belated deposit of employees’ contribution towards the EPF and ESI - Nevertheless, the assessees are given some leeway in that as long as deposits are made beyond the due date, but before the date of filing the return, the deduction is allowed. That, however, cannot apply in the case of amounts which are held in trust, as it is in the case of employees’ contributions- which are deducted from their income. - the non-obstante clause under Section 43B or anything contained in that provision would not absolve the assessee from its liability to deposit the employee’s contribution on or before the due date as a condition for deduction. - SC
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