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Report No. 12

310. Employer's contribution-

Deduction for.- Any sum paid by an employer by way of contribution towards an approved superannuation fund shall be deducted in computing his income for the purpose of assessment:

[Section 58R, main para., part]

Provided that where the contribution is not an ordinary annual contribution, it shall be treated as the Central Board of Revenue may direct, either as a deduction for the year in which the sum is paid, or as a deduction to be spread over such period of years as the Central Board of Revenue thinks proper.

[Section 58R, 2nd proviso]

Income-Tax Act, 1922 Back

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