How Delayed MSE Payments Trigger Deferred Deductions for Corporates w.e.f. 1st April 2024: Section 43B(h) Explained

As per the new amendment, the companies has to make the payment to the Micro and Small enterprises within the credit period in order to claim the deduction
Delayed MSE Payments - Micro and Small Enterprises - MSEs - Deferred Deductions - Deferred Deductions for Corporates - Micro Small and Medium Enterprises - MSME - Deductions - TAXSCAN

With an effort to improve the liquidity of the Micro Small and Medium Enterprises, the government has brought some changes specifically in Companies Act, 2013. Following the same, the Finance Act, 2023 has inserted a new provision into the Income Tax Act, 1961, that is Section 43B(h). The changes shall come into effect on 1st…

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