11 June 2020
A business man is making late payment of EPF contribution of workers every month. As the auditor insisting on reporting the same in 3CD the party is arguing that there are some case law in favour of the party that the contribution of workers can be deposited before filing the return and it need not be reported.Auditor is not accepting the same saying that since 3CD is having the query to report the same, the Income tax department is not accepting / following /convinced with the case law.If the IT dept is convinced with the case law they would have dropped the query in 3CD. Please advise how we have to act in this situation as the amount is added back to profit for tax purpose
CAclubindia
