Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the ...

Employers Face Penalties for Late ESI/EPF Contributions but Can Deduct If Paid Before Tax Filing Under Sec 36(1)(va.

October 12, 2021

Case Laws Income Tax AT

Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the employees‟ contribution is not deposited by the due date prescribed under the relevant Acts and is deposited late, the employer not only pays interest on delayed payment but can incur penalties also, for which specific provisions are made in the Provident Fund Act as well as the ESI Act. Therefore, the Act permits the employer to make the deposit with some delays, subject to the aforesaid consequences. Insofar as the Income Tax Act is concerned, the assessee can get the benefit if the actual payment is made before the return is filed - AT

View Source

← Previous Next →

Disallowance u/s 36(1)(va) - delayed payment of ESI/EPF - if the ...

Employers Face Penalties for Late ESI/EPF Contributions but Can Deduct If Paid Before Tax Filing Under Sec 36(1)(va.

October 12, 2021

Case Laws Income Tax AT

You may also like:

Disallowance for late payment of employees contribution to ESI and PF - The respective enactment has although provided deterrent to the employer in the form of interest...

Impact of belated deposit of employees’ contribution towards the EPF and ESI under Income Tax

Late payments towards EPF and ESI under section 36(1)(va) - Contribution made prior to filing of the return of income u/s. 139(1) - Addition by way of adjustment while...

Valuation - inclusion of component of EPF, ESI - statutory dues - the appellant has deducted the contributions on behalf of principal employer, that is recipient of the...

Credit of the tax deducted at source (TDS) as TDS deducted by the employer - mis-match of tax deducted u/s 192 and the amount reflected in Form 26AS - The Court...

Valuation - Section 15 of CGST Act - reimbursement of Employee Provided Fund & ESI - there is no contractual agreement with the recipient of supply to act as his pure...

Appellant paid service tax on entire value of cleaning services, but for remaining services paid tax only on margin money after deducting expenses. Commissioner...

HC partially allowed the petition challenging GST late fee and penalty impositions. Court upheld late fee under Section 47(2) of GST Act for delayed annual return...

Mismatch of credit of TDS due to non-payment of TDS - benefit of tax deducted at source by the employer - Non deposit of TDS by the employer - Reference of Section 205...

Addition in respect of employees contribution to ESI & PF - delayed deposits of contributions - addition by way of adjustment while processing the return of income u/s...

Enhancement of late fee/penalty levied u/s 70 of FA - only the persons who are liable to pay service tax, have to file the return on time else they are liable to pay...

Recovery of damages - failure to deposit the contribution of EPF or committed default as mandated under the provisions of the Employees Provident Fund & Miscellaneous...

Delay in deposit of employee’s contribution to Provident Fund and ESI u/s 2(24)(x) r.w.s. 36(1)(va) - due date of deposit of PF and ESI contribution is to be considered...

Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government...

The ITAT Delhi held that denial of Foreign Tax Credit (FTC) claim due to late filing of Form 67 after the due date of filing Income Tax Return (ITR) was not justified....

Quick Updates: