Employee contribution deductions allowed if credited by employer by the due date for filing the tax return. Clause 31 substitutes clause (e) of sub-section (1) of section 29 to provide that an employer may deduct employee contributions to which section 2(49)(o) applies if the employer credits those contributions to the employee's account in the relevant fund or funds on or before the due date for filing the employer's return of income under section 263(1), replacing the prior timing rule based on statutory or contractual crediting obligations.
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Employee contribution deductions allowed if credited by employer by the due date for filing the tax return.
Clause 31 substitutes clause (e) of sub-section (1) of section 29 to provide that an employer may deduct employee contributions to which section 2(49)(o) applies if the employer credits those contributions to the employee's account in the relevant fund or funds on or before the due date for filing the employer's return of income under section 263(1), replacing the prior timing rule based on statutory or contractual crediting obligations.
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