Sec 40(a)
Replies (6)
Generally, Salaries and Contribution to Provident and ESI funds are booked under seperate heads in P&L A/c. If payment of salary to employee attract T.D.S provisions, you need to deduct T.D.S on salary considering your (Employer) contribution to employee welfare funds. If you fail to consider those contributions you will be disallowed to that extent of contribution while computing your Income tax liability.
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By adding this provision, they are just trying to say that whatever type of amount u r paying for the benefit of the employee.. You have to have deduct tax..unless employee himself has not done anything which will make that amount tax free..
I believe here assesse should see availability of Tan number with the organisation with whom contribution is being made and shall obtain copy of the Tan number before contribution made.
I believe here assesse should see availability of Tan number with the organisation with whom contribution is being made and shall obtain copy of the Tan number before contribution made.
I think it means that when the employer is making payment to a fund for the benefit of the employees, TDS will be deducted from payment made by the fund to the employees and the same shall be chargeable to tax under the head salaries.
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