can i claim deduction on account of contribution to non recognized provident fund under section 37(1).
Menu
income tax
Replies (1)
Dear Linesh,
Refer Section 40A(9)
Disallowance in respect of contibutions to non-statuatory funds
No deduction shall be allowed in respect of any sum paid towards setting up or formation of any fund,trust or socirty etc for any other purpose which is not approved or recognised.
Only sum contributed by an assessee as an employer, towards an approved gratuity/PF/Supperannuation fund shall be allowed as a deduction.
Recent Topic
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
- GOODS AND SERVICE TAX - GSTR 1
- Correct ITR form
- Clarification required on Section 393 & Report
Related Topics
CAclubindia
