https://www.taxtmi.com/caselaws?id=459680 The Appellate Tribunal upheld the disallowance of Rs. 10,09,648/- for belated payment of PF/ESIC under section 36(1)(va) of the Income-tax Act. The Tribunal relied on the Madras HC's interpretation that the due date for depositing employee contributions is linked to the month in which wages are earned, not paid. The Tribunal rejected the assessee's arguments for a prospective application of the Finance Act, 2021 amendment and dismissed the appeal, affirming the employer's obligation to remit contributions within 15 days from the month's end in which the salary is earned. en-us Wed, 31 May 2023 00:00:00 +0530 Mon, 23 Dec 2024 10:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459680 The Appellate Tribunal upheld the disallowance of Rs. 10,09,648/- for belated payment of PF/ESIC under section 36(1)(va) of the Income-tax Act. The Tribunal relied on the Madras HC's interpretation that the due date for depositing employee contributions is linked to the month in which wages are earned, not paid. The Tribunal rejected the assessee's arguments for a prospective application of the Finance Act, 2021 amendment and dismissed the appeal, affirming the employer's obligation to remit contributions within 15 days from the month's end in which the salary is earned. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459680