Employees PF eligible for extended time limit given in sec 43B

It was held that if the employees contribution is not deposited by the due date prescribed under the relevant Act and is deposited late, the employer not only pays interest on such delayed payment but could incur penalties also. Those Acts permit the employer to make deposit with some delays. Therefore, these amounts could not be disallowed under section 43B if the payment is made before the due date prescribed for filing the return. Precedent could be found in CIT Vs. Vinay Cement Ltd (2007) 213 CTR (SC) 268.

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