Section 43B(h) for MSME Payments: Compliance and Tax Impact Introduction Section 43B(h) provides that payments due to Micro and Small Enterprises for goods supplied or services rendered are allowed as deductions only when paid within the timelines prescribed under the […]

Section 43B of the Income Tax Act 1961: Conditions  & Exceptions Introduction Many businesses record expenses in their books before making the actual payment. Section 43B of the Income Tax Act 1961 was introduced to ensure that certain deductions are […]