Actuarial Deficit Contributions to Approved Funds Exceeding Statutory Ceilings Are Taxable Revenue Deductions
Actuarial Deficit Contributions to Approved Funds Exceeding Statutory Ceilings Are Taxable Revenue Deductions Issue Whether contributions paid to an approved Superannuation Fund and Gratuity Fund to bridge an actuarial deficit—exceeding the standard percentage ceilings specified under the Income-tax Rules—are allowable deductions under Section 36(1)(iv) and Section 36(1)(v). Whether employee PF contributions deposited by an assessee… Read More »