Section 43B of Income Tax Act, 2013 is amended with a new clause (h) in order to provide reliefs made to MSMEs. Section 43B of the Income Tax Act, 2013 provide for any sum paid by the Assessee or Buyer to MSMEs beyond the 45-day time limit which is specified in section 15 of the MSME Development Act. Deduction under section 43B will be allowed only when the payment is actually made to MSMEs.
Learn about Form No. 10BD for charitable trusts with Section 80G registration. Details, due dates, penalties, and procedures for filing and issuing certificates.
Discover the statutory compliance requirements of the Building and Other Construction Workers (RE & CS) Act, including registration, returns, and penalties.
Explore the comprehensive provisions of the Code of Wages Act, 2019, replacing four labor laws, ensuring fair remuneration, and strict penalties for non-compliance.
Explore the Ease of Compliance Rule, 2017 effective since February 21, 2017, simplifying labor law maintenance, inspection, and accessibility through electronic means.
CESTAT Delhi held that mere manual segregation of plastic scrap from the rest of the scrap is neither manufacturing nor producing the plastic scrap and hence no central excise duty is chargeable on removal of the same.
ITAT Rajkot held that interest under section 234A and 234B can be levied only up to the date of self-assessment tax paid and not for period beyond that date.
Due Diligence is the investigation process for relevant facts and financial information undertaken by professionals of different fields to ensure that the organization is running smoothly and efficiently without any default.
Discover the penal provisions for non-compliance of cost audit reports under Section 148 of the Companies Act, 2013, and ensure timely submission to avoid penalties.
Fugitive Economic Offenders Act, 2018 (FEOA) was introduced by the Indian Parliament in April 2018 with the intention of punishing economic offenders for an array of offences involving fraud and corruption.
