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section 43B

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Section 43B of Income Tax Act: Implications for Service Tax/GST: Litigation & Tax Audit

CA, CS, CMA : Explore Section 43B of the Income Tax Act 1961, focusing on GST and Service Tax implications, including disallowance, audits, and ...

August 2, 2024 1281 Views 1 comment Print

Reporting Requirement of Clause 22 [Amount Covered under section 43B(h)] of Form 3CD

Income Tax : Learn about the amendment to Clause 22 of Form 3CD under Section 43B(h) and its impact on reporting requirements for payments to M...

August 1, 2024 5379 Views 1 comment Print

Frequent Asked Question on Section 43B(h): New Provisions for MSMEs

Corporate Law : Explore FAQs on Section 43B(h) and new provisions for MSMEs. Understand key amendments, payment deadlines, and tax implications un...

July 27, 2024 10299 Views 6 comments Print

Understanding the Amendment to Section 43B of Income Tax Act for MSMEs

Finance : Explore the recent amendment to Section 43B of the Income Tax Act aimed at bolstering the financial well-being of MSMEs through ti...

June 12, 2024 1269 Views 2 comments Print

Section 43B(h): Allowability of Payments to MSMEs beyond statutory timeline

Income Tax : Learn about Section 43B(h) of the Income-tax Act, 1961, allowing deductions for MSME payments only on actual payment basis. Unders...

May 28, 2024 2697 Views 1 comment Print


Latest News


Concerns on Corporate Tax, MSME Deductions, GST Rates

CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...

August 5, 2024 306 Views 0 comment Print

Urgent Request for Amendment to Section 43(B)(h) for MSMEs

Income Tax : Punjab Accountants Association urges Finance Minister to amend Section 43(B)(h) for MSMEs, proposing better payment timelines and ...

July 27, 2024 10815 Views 0 comment Print

Representation against Proposed Amendment In Section 43B of Income Tax

Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...

June 11, 2024 5073 Views 0 comment Print

Live Course on Section 43B(h) by CA Manoj Lamba – Last Few Hours to register

Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...

May 10, 2024 10233 Views 1 comment Print

Message to Micro and Small Enterprise/Suppliers (Manufacturing) – Section 43B(h)

Income Tax : Explore how the new 43 B (h) clause of the IT Act impacts Kerala Textiles and Garments Dealers Welfare Association and their appea...

February 12, 2024 810 Views 0 comment Print


Latest Judiciary


Contribution to National Pension System before filing of return allowable: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that contribution under National Pension System (NPS) belatedly, however, before filing of return is allowable...

August 15, 2024 381 Views 0 comment Print

Addition merely based on retracted statement without any incriminating material unsustainable: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that addition merely on the basis of retracted statement without any incriminating material seized from assess...

August 12, 2024 276 Views 0 comment Print

TDS on unfinished work deductible post receipt of 100% revenue of project: ITAT Delhi

Income Tax : The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessme...

August 12, 2024 252 Views 0 comment Print

Bonus Paid as CTC cannot be Disallowed Under Section 43B for Non-Payment at year end

Income Tax : Read the detailed analysis of Renault Nissan Automotive India Pvt Ltd vs DCIT case where ITAT Chennai grants relief on bonus disal...

July 20, 2024 663 Views 0 comment Print

Delayed deposit of employees’ contribution to PF/ESI not allowable

Income Tax : Learn about the ITAT Kolkata ruling where employer's PF contribution disallowance under Sec 36(1)(va) was upheld. Full text of the...

July 4, 2024 618 Views 0 comment Print


Latest Notifications


CBDT notifies Interest on Loan to NBFCs under Section 43B(da) of Income Tax Act

Income Tax : Central Board of Direct Taxes (CBDT) has recently issued a crucial notification concerning the payment of interest on loans to Non...

September 22, 2023 6000 Views 0 comment Print

MSMEs vs. Traders: Understanding Delayed Payment Benefits

Corporate Law : Explore how the recent policy update impacts MSMEs and traders regarding delayed payment benefits under the MSMED Act, 2006. Insig...

September 1, 2021 2307 Views 0 comment Print

Chapter VIA deduction on enhanced profits after disallowance eligible

Income Tax : Disallowances made under sections 32, 40(a)(ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related to the bus...

November 2, 2016 6541 Views 0 comment Print

Section 43B: CBDT clarifies Due date for payment of Employee Provident fund

Income Tax : Income Tax Circular No. 22/2015 W.c.f. 1.4.1988, the settled position is that if the assessee deposits any sum payable by it by wa...

December 17, 2015 59761 Views 0 comment Print

The liability to pay sales tax by instalments cannot be treated to be beyond the provisions of section 43B of the Act

Income Tax : Whether the liability has been deferred or not has to be considered not from the simplistic point of the term 'defer' but in conte...

July 9, 2010 1931 Views 0 comment Print


Section 43B(h): PAY timely to Micro / Small Enterprise(s) or Pay Taxes

January 31, 2024 5994 Views 0 comment Print

Explore the impact of Finance Act 2023s Sec 43B(h) amendment. Analysis covers provisions, definitions, due dates, and practical scenarios for timely payments to Micro/Small Enterprises.

Disallowance of MSME Purchase / Expenses under Section 43B(h)

January 31, 2024 76545 Views 4 comments Print

Explore the impact of Income Tax Acts Section 43B(h) on disallowance of expenses from MSMEs. Learn about changes, provisions, and steps for compliance.

Representation on Disallowance under Section 43B(h) of Income Tax Act, 1961

January 30, 2024 5481 Views 0 comment Print

Read the Karnataka State Chartered Accountants Associations representation on the challenges and proposed solutions regarding disallowance under Section 43B(h) of the Income-tax Act, 196

Demystifying Section 43B(h) of Income Tax Act: Implications for Businesses & FAQs

January 30, 2024 4017 Views 0 comment Print

Explore the implications of Income Tax Act Section 43B(h) for businesses, focusing on timely payments to MSMEs. FAQs provide clarity on covered expenses and compliance

Faster Mechanism of Recovery of Dues of SMEs

January 30, 2024 834 Views 0 comment Print

Explore the fast-track recovery mechanisms for Small and Medium Enterprises (SMEs) through the MSME Samadhan Portal and recent amendments in Section 43B(h) of the Income Tax Law. Learn about registration, timelines, benefits, and legal implications for SMEs and corporate buyers.

Pay to MSME Registered Vendor / Supplier companies within 45 days

January 29, 2024 7314 Views 1 comment Print

Understand MSME payment obligations, due dates, and tax implications. Ensure timely payments to registered vendors to avoid income tax disallowance. Learn about UDYAM registration benefits.

Compliance Challenges & Ramifications of Section 43B(h) of Income Tax Act

January 29, 2024 4149 Views 0 comment Print

Explore the ramifications of Income Tax Act Section 43B(h) amendment, its impact on Micro and Small Enterprises (MSMEs), compliance challenges, and potential consequences for businesses

Section 43B Amendments: FAQs on Timely Payments to MSMEs

January 29, 2024 29106 Views 3 comments Print

Understand recent amendments to Section 43B of Income Tax Act, emphasizing prompt payments to MSMEs. Explore FAQs for clarity on compliance, consequences, and practical implications.

Repercussions of Delayed Payment to Micro and Small Enterprises- FAQs

January 28, 2024 35286 Views 2 comments Print

Explore the repercussions of delayed payments to Micro and Small Enterprises (MSMEs) under the MSMED Act and Section 43B(h) of the Income Tax Act. FAQs and comprehensive insights provided.

Section 43B(h): Time Limits and Eligibility Criteria

January 28, 2024 41748 Views 5 comments Print

Explore Section 43B(h) of Income Tax Act introduced in AY2024-25. Learn about payment deadlines for Micro and Small Suppliers, eligibility criteria, and implications for taxpayers.

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