Benefit of Sec 36(1)(Va) of Income Tax Act is not Claimable on Failure to Deposit Employees’ Contribution to PF Within Due Date: ITAT [Read Order]

The Bench directed the AO to allow deduction under section 43B read with Sec 36 if it is verified that the employer's contribution has been deposited before the due date of filing of return of income
By Yogitha S. Yogesh - On July 2, 2024 1:10 pm - 2 mins read
ITAT - Income Tax Act - Income Tax Appellate Tribunal - Provident Fund - Deposit Employees Contribution - taxscan

The Kolkata Income Tax Appellate Tribunal ( ITAT ) has held that delayed deposit of amount collected towards employees’ contribution to Provident Fund ( PF ) renders claim of deduction under section 36(1)(va) of the Income Tax Act, 1961 ineligible. Supreme & Co. Pvt. Ltd , the assessee company had preferred an appeal contending that…

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