Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2021 Year 2021 This

Disallowance of claims of superannuation fund u/s. 40A(9) and ...

Income Tax

March 3, 2021

Disallowance of claims of superannuation fund u/s. 40A(9) and gratuity fund u/s. 40A(7) - the company had applied for the approval of Superannuation Fund as well as Gratuity Fund which is administered by the LIC in March 1999. The assessee remits the contribution to LIC in respect of Superannuation Fund governed by the provision of section 40A(9). - The claim cannot be denied - AT

View Source

 


 

You may also like:

  1. Applicability of 40A(7) - Given the fact that Section 40A(7)(b) of the Act contemplates deduction in respect of the provision made, not only for the purpose of...

  2. Disallowance payment made to gratuity fund u/s.36(1)(v) - gratuity fund was unapproved by the Learned Pr. CIT after 9 years - by any stretch of reasoning, the time taken...

  3. Provision for gratuity or not - Even though the assessee succeeds on the applicability of Section 40A(9) of the Income Tax Act, the case of the assessee fails in view of...

  4. Disallowance u/s 40A(9) – contribution made by the appellant as an employer towards the Karmachari Welfare Fund falls within the expression 'as required by or under any...

  5. Provision made towards gratuity - the meaning as given in section 43B cannot be said to be the same as in section 40A(7)(b)(i) - it is not necessary that actual payment...

  6. Recognized system of accounting - maintain its accounts according to AS-7 or AS-9 - the system of accounting followed by it for the last many years as per AS-9 -...

  7. Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

  8. Payment of Gratuity to the employees - The question of distribution of the Gratuity Fund in order of priority, provided u/s 53(1) of the Code does not arise. - The...

  9. Initiation of CIRP - Insurance Company has made payment to the Operational Creditor of its claim - third party liability - Liability of Corporate debtor to discharge its...

  10. Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection...

  11. Initiation of CIRP - It is clear from the provisions of Section 8 and 9 of the Code, that unlike under Section 7, a Notice under Section 8 is to be issued by an...

  12. Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

  13. Constitutional Validity of Section 327(7) of the Companies Act, 2013 - statutory claims of the “workmen’s dues” - Overriding effect of the provisions of IBC - As...

  14. Companies (Incorporation) Second Amendment Rules, 2022 - Form INC-9 substituted - Notification

  15. Disallowance u/s 40 A (7) - disallowance on account of gratuity has been made by the Central processing unit - There is a inconsistency in filing of the return of income...

 

Quick Updates:Latest Updates