29 September 2008
WHAT IS THE CONSEQUENCES IF EMPLOYEE CONTRIBUTION TO PF AND ESI IS NOT PAID WITH IN DUE DATE SINCE OUR AUDITOR REPORTED IN HIS 3CD, DISALLOWANCE FOR LATE PAYMENT.
BUT I HAVE NOT TAKEN THE SAME FOR INCOME TAX COMPUTATION AND FILED RETURN WITHOUT TAKING INTO ACCOUNT THE ABOVE DISALLOWANCE.
30 September 2008
If you have not taken them for Income tax computation, How can you file the return without taking into account the disallowance? Are you saying that for payment of taxes you have paid the tax in excess?
30 September 2008
You can revise the return after recomputing your Income and depositing the Tax payable on such addition to the income already returned.
01 October 2008
see normally as per section 36(1)v & vi if yu hav nt paid eee contribution within due date...then the same amount will be treat as income in the hands of the employer...
However in one case law it was given that even though you have not paid with in due date if you hav paid with in due date of filing of return it will be allowable as expenditure....and you have to prove to Assessing offf that you hav paid...
CAclubindia
