Certain deductions allowed on actual payment basis only.

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..... sums are actually paid irrespective of-- (a) any provision to the contrary in this Act; or (b) method of accounting regularly followed; or (c) the tax year in which the liability was incurred. (2) The sums payable by an assessee referred to in sub-section (1), shall be-- (a) tax, duty, cess, surcharge or fee, by whatever named called, levied under any law in force; (b) contribution of .....

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..... tax year in which the liability was incurred, but on or before the due date of filing of return of income under section 263(1) for such tax year, the deduction towards such sum shall be allowed in such tax year. (4) If interest on loans or advances specified in sub-section (2)(e) is converted into a loan or advance or debenture or any other instrument by which the liability to pay is deferred to .....

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