Meaning of tax terms
Meaning of “Contribution”
Case Name : Essae teraoka (p.) Ltd. Vs. Dy. CIT
Citation : [2014] 43 taxmann.Com 33/222 taxman 170 (mag.)/266 Ctr 246/366 itr 408 (kar.)
Court : Karnataka high court
Section : 43b
Meaning : The word ‘contribution’ used in clause (b) of section 43b means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section (1) of section 139 is made, the employer is entitled for deduction.
Case Name : S.N.Bhargava vs. Ito
Citation : [1987] 20 itd 561 (delhi – trib.)
Court : Itat-delhi
Section : 80c
Meaning : Contribution’ means any sum credited by or on behalf of any employee out of his salary, or by an employer out of his own moneys, to the individual account of an employee, but does not include any sum credited as interest.
