https://www.taxtmi.com/article/detailed?id=5214 Section 2(24)(x) deems sums received by an employer from employees for provident, superannuation, ESI or other welfare funds to be income. The document argues such sums, being statutory or contractual deductions held in trust and accounted as liabilities, cannot properly be characterized as assessable income merely by deeming; constitutional taxing powers limit the Union to taxing true income and corporation tax, and timing rules permitting deduction on actual payment address allowability but do not convert liabilities into income. en-us Sat, 27 Jul 2013 09:26:01 +0530 Sat, 27 Jul 2013 09:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5214 Section 2(24)(x) deems sums received by an employer from employees for provident, superannuation, ESI or other welfare funds to be income. The document argues such sums, being statutory or contractual deductions held in trust and accounted as liabilities, cannot properly be characterized as assessable income merely by deeming; constitutional taxing powers limit the Union to taxing true income and corporation tax, and timing rules permitting deduction on actual payment address allowability but do not convert liabilities into income. Articles Income Tax Sat, 27 Jul 2013 09:26:01 +0530 https://www.taxtmi.com/article/detailed?id=5214