CA SUKSHAM ARORA (CA) (569 Points)
04 November 2014
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 04 November 2014
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.
CA SUKSHAM ARORA
(CA)
(569 Points)
Replied 05 November 2014
Dear Members,
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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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