https://www.taxtmi.com/caselaws?id=440411 Employees' contribution to provident fund is treated as income under section 2(24)(x) and is deductible only if credited within the due date under the welfare statute. Applying the Supreme Court ruling in Checkmate Services, delayed deposit beyond that statutory due date is not allowable under section 36(1)(va). The Tribunal further read section 38 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 as requiring deposit within fifteen days of the close of the month for which wages are payable, not from the wage payment date. It preferred the Gujarat and Madras High Court view and rejected the contrary single-judge view relied on by the assessee. en-us Fri, 14 Jul 2023 00:00:00 +0530 Mon, 17 Jul 2023 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440411 Employees' contribution to provident fund is treated as income under section 2(24)(x) and is deductible only if credited within the due date under the welfare statute. Applying the Supreme Court ruling in Checkmate Services, delayed deposit beyond that statutory due date is not allowable under section 36(1)(va). The Tribunal further read section 38 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 as requiring deposit within fifteen days of the close of the month for which wages are payable, not from the wage payment date. It preferred the Gujarat and Madras High Court view and rejected the contrary single-judge view relied on by the assessee. Case-Laws Income Tax Fri, 14 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440411