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April 2015

Business expenditure- Disallowance u/s. 43B – Contribution to Provident Fund and Employees’ State Insurance – Provision that contribution should be paid before due date for filing of return is applicable to contribution by employees also –

By K. B. Bhujle Advocate
Reading Time 1 mins
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CIT vs. Magus Customers Dialog Pvt. Ltd.; 371 ITR 242 (Karn):

Considering the scope of section 43B the Karnataka High cOurt held as under:

“The employees’ contribution made to the provident fund and employees’ State insurance by the assessee on or before the due date for filing the return u/s. 139(1) of the Income-tax Act, 1961, would be eligible for the benefit conferred u/s. 43B(b).”

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