Deductibility of Provident fund in P&L

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This query is : Resolved

Jayendra Sahu (Querist)

10 September 2009 As per sec.36 employees' contribution to Provident Fund is deductible in employer's P&L only if it is deposited to credit of employee on or before due date. As read with sec.43B it will be allowed only if paid during the year. But proviso to 43B says that if such amt. is paid before date of filing of return, then 43B shall not be applicable. What is then actually the limiting date for such payment, that will allow us to deduct such sum in P&L keeping in mind all the above provisions?

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)

10 September 2009 Before submission of your return of income e.g. if you are submitting your return of income on 10th sept. then before 10th sept. you have to deposit it in EPF a/c.

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)

10 September 2009 Before submission of your return of income e.g. if you are submitting your return of income on 10th sept. then before 10th sept. you have to deposit it in EPF a/c.

Sreedhar Atchutuni ACA,GradCWA

Sreedhar Atchutuni ACA,GradCWA (Expert)

10 September 2009 Employees cont. has to be paid with in due date specified in PF Act.

But employers cont. can be paid before submitting return of income (sec 36 read with sec 43B)

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