Employer's Contribution towards Pension Scheme - (New) Section 29(1)(b) / (Old) Section 36(1)(iva)
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.... • Employer allowed as a deduction while computing Income under section 26 in respect of • any sum paid by way of contributions made to employee pension schemes up to 14% of salary. • Salary includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites. GENERAL PROHIBITION [ Section 29(3) ] ....


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