Income Tax - Provident Fund & E.S.I

vinodkapil
hello ,
my query is in respect of sec. 36(1)(5a) & sec.2(24) . in respect of payment on account of P.F. & E.S.I by the co. delayed but paid before submission of I.T.R on due date as prescribed under the INCOME TAC Act .
" shall the late sum paid on account of E.S.I. & P.F. be allowed or not , if payment is made within the relevant financial year ? "
malikjs
dear
if company has paid ESI&PF after due date than company will not get exemption of income tax on that amount.
tks
js malik
rajasekar16
Hi Malik,
This is Rajasekar, working with IT company.
we have given the PF cheque (Citi Bank Cheque) to my consultant on 12th march (Friday) and they have deposited on the same with SBI bank. Since its a other bank it would have taken two days for clearance so my cheque would have cleared on 16th March. In challan PF seal dated 17th March.
My question is
1. Will i get exemtion of income tax on this amount?
2. Was this late payment?
Kindly suggest me.
Regards
Rajasekar
malikjs
dear
you have made payment on time and this is not late payment and u should get exemption in income tax provided you have proof of depositing on 12 th.
tks
j s malik
vinodkapil
thanks mr. mailk . but however , u/s 43(b) OF INCOME TAX ACT provides exception if the payment is made in the relevant p/y on accrual basis i.e. the year in which the liability is incurred .
so in that case i think the exemption should be allowed u/s 43 (b). so please clarify .
thanks .
regards ,
vinod kapil
kumar0510
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ractaan
dear friends
I want to withdraw pf as i have left my previous company and joined a new one.
Though I am aware that it require form 10C and form 19 and also SSN form for the PF withdrawl, but before my previous company i was working for another company, so when I joined my previous company i withdrew my PF from the first company for which i filled all necessary forms including SSN form.
now I want to withdraw or transfer(whichever is less time taking) Pf from my previous organisation do I need to fill SSN form again as i heard it is one time form.
But i have not recieved my SSN number still.
Please help
Any advise will be welcome.
Thanks and regards
ractaan
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