Superannuation Contribution Allowable if Paid Before Return Due Date and Fund Is Approved: ITAT

The ITAT has ruled that superannuation contribution is allowable if paid before the return due date and the fund is approved. The tribunal clarified that an employer's contribution to an approved superannuation fund can be claimed as a deduction, provided the payment is made within the stipulated time for filing the income tax return. This decision brings clarity regarding the deductibility of employee welfare contributions. It emphasizes compliance with both payment deadlines and approval status of the fund, ensuring that legitimate employee benefits are appropriately treated for tax purposes.