Deductibility under section 40: employer-paid tax treated deductible and disallowance rate reduced, altering income-tax computation. Amendment to section 40 permits deduction for tax actually paid by an employer under the employer-paid tax provision and reduces the statutory disallowance rate under the relevant clause, with each change given a specific commencement date to govern its application in future income-tax assessments.
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Deductibility under section 40: employer-paid tax treated deductible and disallowance rate reduced, altering income-tax computation.
Amendment to section 40 permits deduction for tax actually paid by an employer under the employer-paid tax provision and reduces the statutory disallowance rate under the relevant clause, with each change given a specific commencement date to govern its application in future income-tax assessments.
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