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MSMED Act

MSME Payment Reporting Overhaul for ITR Filing: Must-Know Updates in Form 3CD Audit Report

Manu Sharma

The Income Tax Department has implemented many changes to Clause 22 of Form 3CD for the current tax audit season. Businesses must now disclose both...

Limitation Act does not apply on Conciliation proceedings: Supreme court allows conciliation u/s...

Limitation Applies in Proceedings Under Interest on Delayed Payments to Small Scale & Ancillary...

CBDT Updates Form 3CD: New Disclosure Rules for MSME Payments, Share Buybacks, and Loans [Read...

Analysis of MSME under New GST Return Filling System

SME Timely Payments Alert: Make Payments by March 31, 2024 to ensure Section 43B(h) Compliance

This article discusses the amendment to the Income Tax Act that impacts how certain deductions are calculated for payments made to micro and small enterprises ( MSMEs ) and its impact on the payments...

Timely Payments to MSMEs: Decoding Section 43B(h) of Income Tax Act

The amendment to Section 43B of the Income Tax Act, 1961, through the Finance Act of 2023, brings forth crucial changes with the addition of clause (h). This amendment aims to streamline payments to...

Budget 2023 Recap: Promises and Progress

Any process of governance is complete only after planning, preparation, execution and most importantly, review. The Budget 2024 is approaching and it is the perfect time to review the outcome of the...

Budget 2023 Recapc- Recapc- Budget - Promises and Progressc- Promise - Progress - taxscan

Arbitration Agreement Versus Arbitration Under MSMED ACT

Introduction Micro Small and Medium Enterprises has been the key focus area for the Indian Government and day in day out many reforms are being explored to bring benefits and privileges to such...

Central Govt notifies QCO for Helmet for Police Force, Civil Defence and Personal Protection [Read Notification]

The Department for Promotion of Industry and Internal Trade (DPIIT) vide Order no. S.O. 4649(E) issued on 25th October 2023 has notified the mandatory requirement of standard marks in Helmet for...

Central Govt notifies QCO - Central Govt - Helmet for Police Force - Civil Defence - Personal Protection - taxscan

DPIIT orders Compulsory Standard on Mark Resin Treated Compressed Wood Laminates [Read Order]

The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry notified the Resin treated compressed wood laminates (Quality Control) Order, 2023 vide...

DPIIT orders - Compulsory Standard on Mark Resin Treated - Compressed Wood Laminates - taxscan

Payment to CA firms for Special Audit under MSMED Act Not Consideration: Delhi HC Quashes Income Tax Proceedings [Read Order]

The Delhi High Court has held that the remuneration payable to the accountant doing a special audit under the Micro, Small and Medium Enterprises Development Act (MSMED), 2006 does not amount to...