Superannuation Contributions Allowable if Fund Approved & Paid Before ITR Due Date

Adani Infrastructure Management Services Ltd Vs DCIT (ITAT Ahmedabad)

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled that contributions made by employers to an Employees’ Superannuation Fund are an allowable deduction, provided the payment is made before the due date for filing the income tax return under Section 139(1) of the Income-tax Act, 1961, and the superannuation fund itself is an “approved fund.” The ruling came in the case of Adani Infrastructure Management Services Ltd Vs DCIT (ITAT Ahmedabad) for Assessment Year (AY) 2020-21.

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