Section 43b

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Akhil George (Querist)
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26 September 2014 Is it possible to claim deduction under sec 43B in case of late payment of employer contribution towards PF ?

If so what are the conditions ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 September 2014 Yes. From the assessment year 2004-05, belated remittance of employers’ contribution to the welfare funds of the employees is eligible for deduction u/s 43B. Please refer the amendments made in the Finance Acr,2003.

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Akhil George

Akhil George (Querist)
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26 September 2014 But it says that the proof of payment should be attached with the income tax return and it is not possible to attach the same as per rule 12

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 September 2014 no proof is now attached with return. Only where scrutiny assessment takes place, you shall have to provide the proof.

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Akhil George

Akhil George (Querist)
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26 September 2014 Thank you all for the reply

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 September 2014 you are welcome Akhil...

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