Amendment in section 36(1)(va) & section 43B applicable from 01.04.2021

Shri. Prakash Pai Kochikar Vs Assistant Director of Income Tax (ITAT Bangalore)

Hon’ble Karnataka High Court in the case of Essae Teraoka Pvt. Ltd., (supra) has taken the view that employee’s contribution under section 36(1)(va) of the Act would also be covered under section 43B of the Act and therefore if the share of the employee’s share of contribution is made on or before due date for furnishing the return of income under section 139(1) of the Act, then the assessee would be entitled to claim deduction. Therefore,

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