Employers should make Timely Deposit of EPF/ESI for claiming Income Tax Deduction u/s 36(1)(va): ITAT

The Income Tax Appellate Tribunal (ITAT) ruled that employers must deposit employees' Provident Fund (EPF) and Employees' State Insurance (ESI) contributions on time to claim deductions under Section 36(1)(va) of the Income Tax Act. Late deposits, even if made before the income tax return filing deadline, disqualify employers from claiming these deductions. This decision underscores the importance of adhering to statutory deadlines for depositing employee contributions to avoid financial penalties and ensure compliance with tax regulations.