“Section 24(7)”

Employees' contributions to welfare funds, such as provident fund, are not allowable as a deduction under section 36(1)(va) if deposited beyond the due date prescribed under the respective welfare statutes, even by a single day. Such delayed deposits are not cured even if made before the income-tax return filing due date.

The beneficial provisions of Section 43B do not apply to sums covered by Section 36(1)(va), which are employee contributions to welfare funds. The scope of Section 43B and Section 36(1)(va) are distinct, meaning belated payment of employee contributions is not deductible under Section 43B, and only Section 36(1)(va) read with Section 2(24)(x) governs their deductibility.

An employer can claim deduction for employee contributions to provident fund or ESI under Section 36(1)(va) if these sums are deposited on or before the due date for filing the income tax return under Section 139, extending the benefit of Section 43B to such payments.

When determining income from house property under Section 23, the Annual Letable Value (ALV) can be estimated by deeming 7% of the property's value as notional rent, particularly when actual rent or other clear basis for ALV is absent.

Additional depreciation under section 32(1)(iia) is allowable every year, distinguishing previous decisions that limited it to the initial assessment year.