Section 43B essentially provides a list of expenses allowed as deduction under the head ‘Income from business and profession’ only in the year of actual payment instead of the year when it was ...

The Tribunal held that GST paid during the relevant year is allowable under Section 43B even if it relates to an earlier period. Since the amount was actually paid and not claimed earlier, ...

The Federation of Pharmaceutical Entrepreneurs (FOPE) has called upon the Union government to consider the postponement of applicability of Section 43B of the Income Tax Act. This is with reference to ...

Annoyed over the Union Budget overlooking their plea for tax reform despite promises, exporters have made an urgent plea for reconsideration of Section 43B (h) in Budget as finance minister's ...

About a week back, the Supreme Court dismissed a petition filed by traders’ and manufacturers’ bodies against Section 43B (h) of the Income Tax Act; it asked them to direct their pleas to their ...

The Income Tax rule that stops businesses from claiming tax deductions for payments beyond 45 days to MSMEs for supply of goods and services will come into effect on Monday. According to Section 43B(h ...

"It is an out-of-the-box solution to delayed payments problem faced by MSMEs," Mukesh Mohan Gupta, President, CIMSME (MSME association) told FE Aspire. Credit and finance for MSMEs: Addressing the ...

The recent addition of clause ‘h’ to Section 43B of the Income Tax Act has stirred up considerable debate within India's MSME sector The latest insertion of the new clause ‘h’ to Section 43B ...

Ahmedabad: As the new rule for payments to micro and small enterprises (MSEs) has affected several sectors, experts said the central govt should allow buyers to make payments till the filing of ...

(MENAFN- KNN India) New Delhi, Mar 5 (KNN) The Indian government is mulling over the deferment of a newly proposed law aimed at facilitating prompt payments to micro and small enterprises (MSEs). The ...