Taxability of Delayed Deposit of Provident Fund
This query is : Resolved
13 August 2009
Rspected Sir,
As per Sec 2(24)x Any sum recd by employed for employees contirbution for any welfare fund is treated as income.
& as per sec 36(V)a any sum such recd above if deposited as per due date of relevant act of that fund will be allowed as deduction.
Does that means if i deposit employees provident fund late, will that be taxable to me (employer) as income ?
Please mention any specific clause or sec.
Thanks in advance
As per Sec 2(24)x Any sum recd by employed for employees contirbution for any welfare fund is treated as income.
& as per sec 36(V)a any sum such recd above if deposited as per due date of relevant act of that fund will be allowed as deduction.
Does that means if i deposit employees provident fund late, will that be taxable to me (employer) as income ?
Please mention any specific clause or sec.
Thanks in advance
13 August 2009
Yes if employees PF is not paid within the stipulated due date the same will be disallowed u/s 36(1)(va).
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