https://www.taxtmi.com/article/detailed?id=9682 The proposed Explanation would exclude employee-derived sums for welfare funds from the deduction-timing rule by stating the rule "shall not apply and shall be deemed never to have been applied," creating retroactive ambiguity; the author urges deletion of that phrase, prospective application from the next accounting year, and clarification that employee contributions paid before return due dates remain deductible under the proviso, while noting definitional uncertainty whether payroll deductions are "sums received from employees" and warning of litigation and constitutional challenge. en-us Sat, 13 Feb 2021 14:59:53 +0530 Sat, 13 Feb 2021 14:59:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9682 The proposed Explanation would exclude employee-derived sums for welfare funds from the deduction-timing rule by stating the rule "shall not apply and shall be deemed never to have been applied," creating retroactive ambiguity; the author urges deletion of that phrase, prospective application from the next accounting year, and clarification that employee contributions paid before return due dates remain deductible under the proviso, while noting definitional uncertainty whether payroll deductions are "sums received from employees" and warning of litigation and constitutional challenge. Articles Income Tax Sat, 13 Feb 2021 14:59:53 +0530 https://www.taxtmi.com/article/detailed?id=9682