https://www.taxtmi.com/caselaws?id=340076 The Tribunal dismissed the appeals by two assessees against CIT(A) orders regarding short tax deductions on salaries due to contributions to unrecognized Provident Fund for assessment years 2007-08 and 2008-09 under sections 201(1) and 201(1A) of the I.T. Act. The Tribunal held that since the Fund was not recognized under the Act, the contributions were not eligible for deduction u/s. 80C, resulting in short deductions u/s. 192 and taxable interest on the Fund. The Tribunal emphasized the importance of accurate tax estimations and upheld the Assessing Officer's orders, highlighting the need for employees to deduct tax at source. en-us Fri, 03 Mar 2017 00:00:00 +0530 Tue, 14 Mar 2017 21:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340076 The Tribunal dismissed the appeals by two assessees against CIT(A) orders regarding short tax deductions on salaries due to contributions to unrecognized Provident Fund for assessment years 2007-08 and 2008-09 under sections 201(1) and 201(1A) of the I.T. Act. The Tribunal held that since the Fund was not recognized under the Act, the contributions were not eligible for deduction u/s. 80C, resulting in short deductions u/s. 192 and taxable interest on the Fund. The Tribunal emphasized the importance of accurate tax estimations and upheld the Assessing Officer's orders, highlighting the need for employees to deduct tax at source. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340076