Reg recovered EPF

HI to all

Can some one help me to clear my confusion on following aspects:

1) When is EPF recovered from employees is taxable

2) Under which head it should be taxable

3) If such amount which is taxed earlier is remitted to the pf authorities in the next year how will it be claimed

Thanking you

Regards

Arjun

Replies (1)

First you refer Section 2(24)(x) of the IT act, in which the contribution from employees towards Provident find has been treated as Income and then deduction has been allowed under Section 36(1)(va) if the said amount recovered from emplyees, has been paid to concerned authorities before the due date. If it is not remitted before due date, no deduction will be allowed, neither in the year of  delayed remittance  nor in the year in which it was later remitted. Hence, the assessee is losing the tax on the above geniune payments, it it is not remitted within the due date. However, in respect of employers contrbutions, deduction is admissible in the year of payment and deduction can be availed for delayed payment, it it was remitted before the date of filing return of the concerned previous year.

As it is already included under the head "income from business or profession" and no other heads of income will be required to tax the same.

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
12 August 2026
Deputy Manager - Finance

RoamPrime Technologies Private Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 10 August 2026
Article Assistant

Suraj Garg and Associates

New Delhi

CA Inter

View Details