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of <h1>Income Tax Act Section 43B mandates deductions only on actual payment of taxes, duties, or employee welfare contributions.</h1> Section 43B, introduced in the Income-tax Act by the Finance Act of 1983, mandates that certain deductions are permissible only upon actual payment. This applies to sums payable as taxes, duties, or employer contributions to employee welfare funds, overriding other provisions. Deductions are allowed only in the year the payment is made, regardless of when the liability was incurred. The section clarifies that if a deduction for such sums was previously allowed based on incurred liability, no further deduction is permitted in the year of actual payment. This provision takes effect from April 1, 1984.
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