36 1 Income Tax. Section 36 (1) (ii) of the income tax act, 1961 (‘act’ for short) provides that any sum paid to the employee as bonus or commission for services. Section 36 (1) (va) with section 43b.
With regard to employee’s share of contribution to pf and esi, the cit (a) referred to the amendment made to section 36 (1) (va) and 43b of the act by the finance. Section 36 (1) (va) with section 43b.
This Could Have Been Achieved Even By Providing Deduction On Payment Basis.
With regard to employee’s share of contribution to pf and esi, the cit (a) referred to the amendment made to section 36 (1) (va) and 43b of the act by the finance.
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Before claiming an amount as a debt, it must be.
The Intent Of The Amendment Appears To Ensure Timely Deposit Of Employees' Contribution.
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Section 36(1)(Viii) Of The Income Tax Act, 1961, Is A Provision That Allows Businesses To Claim A Deduction For The Amount Of Interest Paid On Loans Taken For.
Payment of advance tax and refund of tax;
Section 36 (1) (Va) Provides For Deduction Of Any Sum Received By The Assessee From Any Of His Employees To Which The Provisions Of Section 2 (24) (X) Apply, If.
Deductions for contributions to provident funds are an important part of lowering taxable income for businesses.