Held that deduction in respect of employees contribution towards PF & ESI would be allowable as per provisions of sections 36(1)(va) and 43B to assessee-employer even if same was paid after due date specified under respective acts but before due date of filing of return under section 139(1). Amendment to provisions of sections 36(1)(va) and 43B vide Finance Act, 2021 is prospective in nature and would be applicable only from 1-4-2021. (AY. 2018-19)
Devarayapatana Thimmappa Paramesha v. DCIT (2022) 194 ITD 325 (Bang.)(Trib.)
S. 36(1)(va) : Any sum received from employees-Allowable as deduction even if same was paid after due date specified under respective acts but before due date of filing of return under section 139(1)-Amendment to provisions of sections 36(1)(va) and 43B vide Finance Act, 2021 is prospective in nature and would be applicable only from 1-4-2021. [S. 43B, 139(1)]