TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2021 amends section 43B of Income-tax Act; employer deductions allowed only on actual payment.</h1> Clause 9 of the Finance Bill, 2021, proposes an amendment to section 43B of the Income-tax Act, clarifying that the section's provisions do not apply to sums received by an assessee from employees under sub-clause (x) of clause (24) of section 2. This amendment ensures that deductions related to employer contributions to employee welfare funds are only allowed upon actual payment. The amendment is effective from April 1, 2021, applicable from the assessment year 2021-2022 onward, emphasizing that the section is inapplicable to certain employee contributions historically and moving forward.
TaxTMI 
TaxTMI 
