Say for e.g. if employer contribution for april month comes to 5000 rs. which shall be generally be deposited with
employee's contribution of rs. of 5000 by 20th may.(15 th may add 5 days of grace.. isnt it??), now if it is not deposited by due date then EMPLOYEE's contribution will be considered as income of employer and will be chargeable to tax. NOW THE QUESTION is for employer's contribution of rs. 5000 which is not deposited by 20 th may, wht shall be done???
whether it will be disallowed in P.F. Act or Income tax act????
and if both contributions are deposited by 25th may then whether employer's contribution will be allowed under 43B or its's applicable for march month's contribution only????
CAclubindia
