43B. Certain deductions to be only on actual payment. -Notwithstanding anything contained in
any other provision of this Act, a deduction otherwise allowable under this Act in respect of -
3[(a) any sum payable by the assessee by way of tax, duty, cess or fee, by whatever name called,
under any law for the time being in force, or]
(b)any sum payable by the assessee as an employer by way of contribution to any provident fund
or superannuation fund or gratuity fund or any other fund for the welfare of employees, 4[or]
4[(c) any sum referred to in clause ( ii) of sub-section ( 1) of section 36,] 5[or]
5[(d) any sum payable by the assessee as interest on any loan or borrowing from any public
financial institution 6[or a State financial corporation or a State industrial investment corporation], in
accordance with the terms and conditions of the agreement 7[governing such loan or borrowing; or]
8[(e) any sum payable by the assessee as interest on any 9[loan or advances] from a scheduled
bank 10[or a co -operative bank other than a primary agricultural credit society or a primary
co-operative agricultural and rural development bank] in accordance with the terms and conditions of
the agreement governing 11[such loan or advances], 12[or]
12[(f) any sum payable by the assessee as an employer in lieu of any leave at the credit of his
13[employee, or]]
14[(g) any sum payable by the assessee to the Indian Railways for the use of railway assets,]