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Dipendra (Querist)
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15 April 2010 wages for overtime worked during April but paid during June. Would employee contributiin is allowed for exp.under PGBP if Deposited on 10 July

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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15 April 2010 yes, as per case law

In Alom Extrusion Ltd 319 ITR 306 the Supreme Court held that the omission of the second proviso to s. 43B by the Finance Act 2003 operated retrospectively w.e.f. 1.4.1988. The Court held that the contribution payable by the employer to the P.F/Superannuation Fund or any other Fund of welfare of the employees was allowable if paid before the due date of filing the return. Consequently, the issue is covered in favour of the assessee and the deduction is allowable u/s 43B.

Dipendra

Dipendra (Querist)
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16 April 2010 Sir,
My Question was regarding Employee Contribution.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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16 April 2010 YES, EMPLOYEES CONTRIBUTION IS ALSO ALLOWABLE, IF PAID BEFORE DUE DATE OF FILLING THE IT RETURN

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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16 April 2010 Agreed...

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