https://www.taxtmi.com/article/detailed?id=17469 Section 37 of the ITA 2025 permits deductions for specified liabilities only in the tax year of actual payment when computing business or professional income. Covered items include statutory levies, employer welfare contributions, leave encashment, employee bonus or commission, qualifying loan interest, railway-asset payments, and overdue micro or small enterprise dues. Except for enterprise dues, payment by the return-filing due date preserves deduction for the year in which liability arose. Conversion of qualifying interest into a deferred instrument is not actual payment, and sums already deducted cannot be deducted again. en-us Sat, 26 Sep 2026 08:31:36 +0530 Sat, 26 Sep 2026 08:31:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17469 Section 37 of the ITA 2025 permits deductions for specified liabilities only in the tax year of actual payment when computing business or professional income. Covered items include statutory levies, employer welfare contributions, leave encashment, employee bonus or commission, qualifying loan interest, railway-asset payments, and overdue micro or small enterprise dues. Except for enterprise dues, payment by the return-filing due date preserves deduction for the year in which liability arose. Conversion of qualifying interest into a deferred instrument is not actual payment, and sums already deducted cannot be deducted again. Articles Income Tax Sat, 26 Sep 2026 08:31:36 +0530 https://www.taxtmi.com/article/detailed?id=17469