Recently, the Income Tax Appellate Tribunal, Bangalore in the M/s.Technocon Constructions & Infrastructure Private Limited vs. The Deputy Commissioner of Income-tax, while referring to the judgment of the Supreme Court in Checkmate Services (P.) Ltd. vs. CIT-1, MANU/SC/1327/2022, observed that the contribution to employees’ provident fund and employees’ state insurance should be remitted on or before the due date under the relevant statutes like EPF Act and the ESI Act, etc., for the same to be considered as an allowable / deductible expense under the Income Tax Act, 1961.
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