income tax ( employee contributions towards PF)
This query is : Resolved
22 September 2008
Whether the employee contribution towards PF deducted by the employers will be treated as income of the employer if deposited late? is there any case law regarding this fact?
22 September 2008
It cannot be treated as income of the employer; but it involves interest and penalty under PF Act.
Will you call it as income - if service tax collected and not paid to the Government.
The treatment is similar to like that.
God Bless U
Will you call it as income - if service tax collected and not paid to the Government.
The treatment is similar to like that.
God Bless U
22 September 2008
No. No need to refer case law.
22 September 2008
Zeeshan employer contribution towards PF is not a part of your salary .Its emploers contribution of your retiral benefit
23 September 2008
According to Sec.36(1)(va) of the Indian Income Tax Act, 1961;
Employee's Contribution to any Fund will be treated as income of the person u/s 2(24)(x) if not paid within the due date of that particular statute.
However, there is a case law which states that contribution will not be added to income if it is paid " within due date of filing of return"
Employee's Contribution to any Fund will be treated as income of the person u/s 2(24)(x) if not paid within the due date of that particular statute.
However, there is a case law which states that contribution will not be added to income if it is paid " within due date of filing of return"
24 September 2008
Thanks Nitin
and mr.amit, mr. chakrapani warrier and mr. visu please refer the answer of mr. nitin.
and mr.amit, mr. chakrapani warrier and mr. visu please refer the answer of mr. nitin.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
