Disallowance Expendeture
This query is : Resolved
CA Raghavender
(Querist)
01 July 2009
Hai To All
Amount Paid to EPF againest Notice (Issued by commissioner of EPF for late payment)So, is it admissible or not ?
Amount Paid to EPF againest Notice (Issued by commissioner of EPF for late payment)So, is it admissible or not ?
Venkat Rao Marella
(Expert)
01 July 2009
This will definitely take the character of Penalty for non payment in time. hence not allowable.
CA Nitin Wadhwani
(Expert)
01 July 2009
Employer's Contribution will be allowed u/s 43B and employee's contribution will be treated as Income u/s 2(24)(x).
CA Raghavender
(Querist)
01 July 2009
Thanks for reply .....
Nitin sir it is panalty levied by commissioner of EPF for late payment(actually paid is 20th but the commissioner gave a notied for after 15th),my doubt whther the amount so paid is allowed as deduction or not
Nitin sir it is panalty levied by commissioner of EPF for late payment(actually paid is 20th but the commissioner gave a notied for after 15th),my doubt whther the amount so paid is allowed as deduction or not
CA Nitin Wadhwani
(Expert)
01 July 2009
If it is a penalty, then it will be disallowed.
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