https://www.taxtmi.com/acts?id=51568 Specified sums otherwise allowable as deductions are deductible only in the tax year in which they are actually paid, regardless of accounting method or year liability was incurred; specified sums include taxes and levies, employer contributions to provident, superannuation or gratuity funds, payments in lieu of leave, sums under section 32(a), interest on borrowings from specified financial entities, payments for railway asset use, and late payments to micro or small enterprises. Payments after the liability year but before the return filing due date are treated as paid for that year except for micro or small enterprise late payments; interest converted into deferred instruments is not treated as paid. en-us Wed, 13 Aug 2025 18:49:51 +0530 Sat, 23 Aug 2025 13:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51568 Specified sums otherwise allowable as deductions are deductible only in the tax year in which they are actually paid, regardless of accounting method or year liability was incurred; specified sums include taxes and levies, employer contributions to provident, superannuation or gratuity funds, payments in lieu of leave, sums under section 32(a), interest on borrowings from specified financial entities, payments for railway asset use, and late payments to micro or small enterprises. Payments after the liability year but before the return filing due date are treated as paid for that year except for micro or small enterprise late payments; interest converted into deferred instruments is not treated as paid. Act-Rules Income Tax Wed, 13 Aug 2025 18:49:51 +0530 https://www.taxtmi.com/acts?id=51568