Disallowance of employee contribution to pf and esi
This query is : Resolved
09 September 2011
Dear Sir,
Our client has made delayed payment in the employees contribution to the ESI and PF in the month of May and August 2010.
should we disallow this expenditure in the income tax computation as per MAT??
For your information delayed payment is made before filing return.
Please reply
Thanks and Regards
G. T. Ramakrishna
Our client has made delayed payment in the employees contribution to the ESI and PF in the month of May and August 2010.
should we disallow this expenditure in the income tax computation as per MAT??
For your information delayed payment is made before filing return.
Please reply
Thanks and Regards
G. T. Ramakrishna
09 September 2011
No it will be not disallowed in the computation of MAT.
09 September 2011
can you refer me the section under which it is allowed?
20 September 2011
Computation of MAT is done as per Explanation 1 to Section 115JB.
Only, the items mentioned in the said explanation are to be added back.
Accordingly, contribution to PF & ESIC will not be disallowed.
Anyway, if the payments have been made before the due date of filing of return, Section 43B is not attracted. So no disallowance even in normal case.
Only, the items mentioned in the said explanation are to be added back.
Accordingly, contribution to PF & ESIC will not be disallowed.
Anyway, if the payments have been made before the due date of filing of return, Section 43B is not attracted. So no disallowance even in normal case.
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