https://www.taxtmi.com/caselaws?id=771426 Interest paid on delayed remittance of employees' provident fund contribution is not deductible under section 37(1) because employees' share is treated as income under section 2(24)(x) and must be deposited within the prescribed due date under section 36(1)(va). Applying the distinction between employer's and employees' contributions recognised in Checkmate Services Pvt. Ltd., the article states that if the principal amount is statutorily non-deductible beyond the due date, interest arising from that delay takes the same character and cannot be claimed under the residuary expenditure provision. The disallowance was therefore sustained. en-us Wed, 23 Apr 2025 00:00:00 +0530 Fri, 23 May 2025 17:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771426 Interest paid on delayed remittance of employees' provident fund contribution is not deductible under section 37(1) because employees' share is treated as income under section 2(24)(x) and must be deposited within the prescribed due date under section 36(1)(va). Applying the distinction between employer's and employees' contributions recognised in Checkmate Services Pvt. Ltd., the article states that if the principal amount is statutorily non-deductible beyond the due date, interest arising from that delay takes the same character and cannot be claimed under the residuary expenditure provision. The disallowance was therefore sustained. Case-Laws Income Tax Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771426