Attention Businesses: Crucial Information on Payments to Micro & Small Enterprises (MSEs)!
As the Financial Year 2024–25 draws to a close, it’s essential to ensure compliance with Section 43B(h) of the Income Tax Act, 1961, introduced by the Finance Act, 2023. Non-compliance could lead to disallowance of tax deductions and higher tax liabilities! Key Compliance Requirements: Timely Payments:15 days if no agreement exists45 days if an agreement […]