Expenditure paid to its retired employees - the payments ...

Retirement Payments Processed with TDS Deductions, Qualify for Deductions u/s 37, Not Sections 36(1)(iv) or (v).

July 11, 2019

Case Laws Income Tax HC

Expenditure paid to its retired employees - the payments effected in terms of the Retirement Regulations, 1979 have been strictly made to the retired employees' account after deduction of TDS wherever applicable - the payment would fall within the general deductions u/s 37 and cannot be brought u/s 36(1)(iv) and (v) of the Act

View Source

← Previous Next →

Expenditure paid to its retired employees - the payments ...

Retirement Payments Processed with TDS Deductions, Qualify for Deductions u/s 37, Not Sections 36(1)(iv) or (v).

July 11, 2019

Case Laws Income Tax HC

You may also like:

ITAT ruled favorably on multiple issues for the banking assessee. The tribunal allowed deduction under s.36(1)(viia) for NPA provisions, holding them equivalent to...

The Appellate Tribunal addressed the following issues: 1. Deduction u/s. 80P(1) r.w.s. 80P(2)(a)(i) - Held that the assessee is not a cooperative bank, making it...

Payment made for surrender of tenancy rights - deduction allowed u/s 37(1) - AT

Deduction u/s 37(1) - earnest money forfeited - As such the alleged amount though is not covered by the provisions of Section 36(1)(viia) but certainly it will be...

Late payments towards EPF and ESI under section 36(1)(va) - Contribution made prior to filing of the return of income u/s. 139(1) - Addition by way of adjustment while...

Deduction of interest on late deposit of TDS under Section 37(1) - payment of interest on late deposit of tax deduction at source by the assessee leviable u/s 201 (1A)...

Allowability of deduction for payment EPF, LWF and ESI after due date - to claim the benefit of deduction u/s 36(1)(va) payment has to be made before the due date...

ITAT upheld the PCIT's revision under section 263, confirming that interest received on enhanced compensation under section 28 of the Land Acquisition Act is taxable...

TDS u/s 195 - disallowance u/s 40(a)(i) - allowability of expenditure u/s 37(1) - there is no question of alternating between section 37(1) of the I.T.Act and section...

Deduction u/s 36(1)(viii) - Whether assessee is eligible for deduction u/s 36(1)(viii) even though the assessee is not an eligible entity under the provisions of the Act...

Allowability of deduction – Delayed payment of PF & ESIC - By deleting Second Proviso to section 43B by Finance Act, 2003, it cannot be said that Section 36(1) (va) is...

Payment for know-how - deductible under Section 37 as a Revenue expenditure OR Section 35AB? - said expenditure qualifies for deduction u/s 37 - HC

Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of...

Deduction u/s 36 or 37 - provisions for claims and compensation - A developer of a building could claim it as an expenditure in the year in which such expenditure is...

Capitalization of interest u/s.36(1)(iii) - Unlike, section 37 which expressly excludes an expense of a capital nature, section 36(1)(iii) emphasizes is the user of the...

Quick Updates: