Taxability of ESI not deposited
This query is : Resolved
Mahin Bathisha
(Querist)
28 July 2017
There is a balance of 1500000 in ESI payable account of a company ,means collected but not deposited.Is this taxable under IFOS
29 July 2017
It's not income.
It's liability for company.
Can't show this IFOS. It's shown in Balance sheet....
Mahin Bathisha
(Querist)
30 July 2017
Then what about section 2(24) (10)
Dhirajlal Rambhia
(Expert)
30 October 2021
Yes, it will be assessed under head IFOS.
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