Employer's Contribution to PF & Superannuation - (New) section 29(1)(a) / (Old) Section 36(1)(iv)

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....employee welfare expenses while computing taxable business income under section 26. ALLOWABLE DEDUCTIONS [ Section 29(1) ] Clause (a): Contribution to Provident Fund / Superannuation Fund • If Employers contribute to: • A recognised provident fund, or • An approved superannuation fund • Provided certain rules and limits are followed. ....

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.... sum paid by the assessee as an employer towards • setting up or formation of, or as contribution to, any fund, trust, company, association of persons, body of individuals, society registered under the Societies Registration Act, 1860, or other institution for any purpose, • except where such sum is so paid, for the purposes and to the extent provided by or under sub....

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....he case of Recognised Provident Fund [ Rule 75 ] • Where an employee of a company owns shares of more than 10% of voting power in the employer company, then - • The combined contribution (employee + employer) to the recognized provident fund: • Cannot exceed Rs.250 per month. • If Employee salary does not exceed 500, the aggregate ....