Contribution to SPF is shown under P&L. is it allow or disallow
a) employes contribution
b) employer contribution
Employers Contribution -
1. Towards RPF or Statutory Provident Fund :- Deduction u/s 36(1)(iv) ONLY IF payment actually made to the fund on or before the Due Date of filing Return of Income u/s 139(1) - Else disallowed u/s 43B.
2. Towards UnRecognised PF :- Disallowed u/s 40A(9) even if actually paid or not.
Employees Contribution -
View # 1: If paid on or before Due date u/s 139(1) :- Allowed u/s 43B -- else disallowed. [most recommended view] - CIT vs. Kichha Sugar Company Ltd (Uttarakhand High Court)
View # 2: If paid on or before due date of respective Act:- Allowed under section 36(1)(va) --else disallowed. - CIT vs. Gujarat State Road Transport Corporation (Guj.HC)
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