Deductibility of payments to Indian Railways now allowed only on actual payment before the return due date. The amendment adds payments to the Indian Railways for use of railway assets to the class of expenditures allowable as deductions only when actually paid ... Summary
Deductibility of payments to Indian Railways now allowed only on actual payment before the return due date.
The amendment adds payments to the Indian Railways for use of railway assets to the class of expenditures allowable as deductions only when actually paid on or before the due date for furnishing the relevant income tax return, and adjusts the existing employee-related wording to permit that insertion.
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