Deduction timing for payments subject to withholding tied to return filing due date; deduction allowed when tax is paid. Amendment changes the timing for allowing deductions by substituting the prior procedural benchmark with the due date for filing returns; amounts where tax is deducted late or paid after that due date are allowable as a deduction in the year the tax is paid. It further replaces descriptive references to certain payments with a fixed specified percentage of sums payable to a resident and inserts that percentage into the related proviso on timing of compliance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction timing for payments subject to withholding tied to return filing due date; deduction allowed when tax is paid.
Amendment changes the timing for allowing deductions by substituting the prior procedural benchmark with the due date for filing returns; amounts where tax is deducted late or paid after that due date are allowable as a deduction in the year the tax is paid. It further replaces descriptive references to certain payments with a fixed specified percentage of sums payable to a resident and inserts that percentage into the related proviso on timing of compliance.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
