Dear Sir,
If PF & ESI payment is delayed by due date then whether company is accountable or liable to pay income tax on actual payment (delayed) to PE & ESI. WIll it not considered as expenditure for compuatation.
Thanks & Regards
Sameer Deshmukh
From India, Pune
If PF & ESI payment is delayed by due date then whether company is accountable or liable to pay income tax on actual payment (delayed) to PE & ESI. WIll it not considered as expenditure for compuatation.
Thanks & Regards
Sameer Deshmukh
From India, Pune
Sameer
Greetings. The delayed payment of PF and ESI contribution will carry penalty and interest which of course is business expenditure and permitted while computing corporate tax. However, for the period it is lying with the company, it would be difficult to assume that the same earned some "notional" income/return and hence the same is taxable. In case of any more clarification please contact on 9822394170 or
Regards & wishing everyone HAPPY X'MAS AND NEW YEAR
From India, Mumbai
3Greetings. The delayed payment of PF and ESI contribution will carry penalty and interest which of course is business expenditure and permitted while computing corporate tax. However, for the period it is lying with the company, it would be difficult to assume that the same earned some "notional" income/return and hence the same is taxable. In case of any more clarification please contact on 9822394170 or
Regards & wishing everyone HAPPY X'MAS AND NEW YEAR
From India, Mumbai
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