“specified fund”
The decision most relied on for specified fund is 279 ITR 331/149 Taxman 15 (Guj.); 5. CIT v. Sabari Enterprises (298 ITR 141), cited in 706 judgments on BharatTax.
Leading authorities on specified fund
Employee contributions to provident fund or ESI, even if deposited after the due date specified in the respective welfare statutes, are allowable as a deduction under Section 36(1)(va) if paid before the due date for filing the income-tax return. This judgment aligns the treatment of employee contributions with employer contributions under Section 43B.
Employees' contributions to provident fund or other welfare funds are deductible under section 36(1)(va) only if paid by the due date specified in the respective welfare fund enactments, and section 43B does not extend this period to the income tax return filing due date under section 139(1).
Employees' contributions to welfare funds are an allowable deduction if paid before the due date for filing the income-tax return under section 139(1), even if the payment is made beyond the due date specified by the respective welfare fund Acts, as per the provisions of section 43B.
Employee contributions to welfare funds, such as provident fund or ESI, are deductible under section 36(1)(va) of the Income-tax Act if paid before the due date for filing the return of income, even if paid after the due date specified in the respective welfare fund statute.
Employees' contribution towards Provident Fund (PF) and Employees' State Insurance Corporation (ESIC) is allowable as a deduction under Section 36(1)(va) read with Section 43B if deposited before the due date of filing the income tax return, even if deposited after the expiry of the statutory time period specified in the applicable fund's statute.
The Bombay High Court holds that employees' contributions to provident fund and ESIC, though paid beyond the due dates specified in the respective welfare legislations, are allowable as a deduction under section 36(1)(va) if they are paid before the due date for furnishing the return of income under section 139(1) of the Income-tax Act.
Employee contributions to provident fund and ESI are allowable as a deduction under Section 36(1)(va) read with Section 43B if paid before the due date for filing the return of income under Section 139(1). This applies even if paid after the due date specified under the respective fund's statute.
Employees' contributions to provident fund or ESI, even if deposited after the due date specified under the respective Acts, are allowable as a deduction under section 36(1)(va) if paid before the due date for filing the return of income under section 139(1).
