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section 43B

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MSME Changes as per Income Tax Act,1961 and MSMED Act, 2006

Income Tax : Understand Section 43B(h) of the Income Tax Act, MSME classification, payment timelines, tax disallowance, interest on delays, and...

March 31, 2025 3711 Views 0 comment Print

Section 43B(h): Implications for MSME Payments Under Income Tax Act

Income Tax : Finance Act, 2023, has inserted section 43B(h) to facilitate timely payments to MSMEs by withholding deduction on account of delay...

November 5, 2024 3270 Views 0 comment Print

MSME Samadhaan

Corporate Law : Learn how MSME Samadhaan helps small businesses file delayed payment claims and check status online. Explore application process, ...

September 16, 2024 2316 Views 0 comment Print

Section 43B(h) of Income Tax Act: MSME Payment Rule

Income Tax : Section 43B(h) mandates timely payment to MSMEs for tax deduction eligibility. Delayed payments will only be deductible after actu...

September 16, 2024 28956 Views 1 comment Print

Section 43B(h) on MSE Payments: Applicability, Time Limit, Disclosure & External Confirmation

Income Tax : Understand Section 43B(h) of the Income Tax Act on timely payments to MSEs, its applicability, time limit, consequences, and manda...

September 13, 2024 13308 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 426 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 11310 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 5265 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 10485 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 915 Views 0 comment Print


Latest Judiciary


ITAT Condones Delay in Tax Appeal as Assessment Order Email Landed in Spam

Income Tax : Pune ITAT condonès 191-day delay in tax appeal after assessment order email went to spam; remits case for merits review, citing j...

May 5, 2025 3834 Views 0 comment Print

Delay in filing of an appeal condoned due to reasonable cause shown: ITAT Pune

Income Tax : ITAT Pune held that delay in filing of an appeal before CIT(A) condoned due to company’s financial position and non-pursuing of ...

May 5, 2025 96 Views 0 comment Print

No disallowance u/s. 43B when deduction not claimed in P&L account

Income Tax : ITAT Ahmedabad held that no disallowance under Section 43B of the Act can be made when deduction is not claimed in the profit and ...

May 5, 2025 84 Views 0 comment Print

Section 40(a)(ia) Disallowance Unwarranted: Section 194C TDS Not Applicable to EDC Payments

Income Tax : The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling up...

May 3, 2025 129 Views 0 comment Print

PF/ESIC Disallowance : ITAT Remands Case Due to Factual Error in Audit Report

Income Tax : ITAT Surat remands PF/ESIC disallowance case due to reporting error by auditor. AO to verify facts and reassess based on corrected...

April 28, 2025 213 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 6888 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 3219 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 6703 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 60166 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 2039 Views 0 comment Print


Conversion of Debt to Equity Meets Section 43B Payment Criteria: Telangana HC

January 20, 2025 702 Views 0 comment Print

Telangana HC’s ruling in Frontier Information Tech clarifies debt-to-equity conversion as “actual payment” under Section 43B of the Income Tax Act.

Addition towards contribution to unrecognized provident fund rightly deleted

January 20, 2025 168 Views 0 comment Print

Punjab and Haryana High Court held that ITAT rightly deleted addition towards contribution to unrecognized provident fund as assessee has duly discharged its onus. Accordingly, petition disposed of.

Provision for leave salary not allowable as deduction u/s. 43B(f): Madras HC

January 18, 2025 1506 Views 0 comment Print

Madras High Court held that provision for leave salary is not allowable as deduction under section 43B(f) of the Income Tax Act since deduction of actual payment is allowable and not of provision. Accordingly, question of law answered in favour of revenue.

Deduction u/s. 37(1) allowable towards ESOP expense since it is not contingent or notional

December 27, 2024 309 Views 0 comment Print

ITAT Mumbai held that the Employee Stock Option Plans [ESOP] expenses should not be regarded contingent or notional and it should be allowed as deduction u/s 37(1) of the Income Tax Act.

Disallowance due to delayed payment of employees’ contribution to PF and ESIC justified

December 26, 2024 417 Views 0 comment Print

After the receipt of intimation, the assessee found mistake in the Tax Audit Report in which the Tax Auditor has mistakenly filled the due date of payment in column of actual date of payment and vice-versa.

TNMM appropriate method for determining Arm’s Length Price of management fees

December 24, 2024 693 Views 0 comment Print

ITAT Ahmedabad held that that the activities / services do not qualify as stewardship / shareholder activity. Further, assessee correctly determined Arm’s Length Price in respect of management fees by using Transaction Net Margin Method i.e. TNMM.

Section 43B Doesn’t Apply to Unclaimed Service Tax Liabilities: Delhi ITAT

December 22, 2024 426 Views 0 comment Print

ITAT Delhi rules that Section 43B does not apply to unclaimed service tax liabilities, partially allowing the appeals of Sircar Securities for AY 2017-18 and 2019-20.

No TDS Disallowance u/s 40(a)(i) due to lack of incriminating evidence in sec.153A assessment

December 13, 2024 450 Views 0 comment Print

As a result, assessee was required to deduct TDS on payments made to Bemo. AO invoked Section 40(a)(i) for non-deduction of tax on Rs. 12,69,79,006, disallowing the deduction.

ITAT Allows Timely Employer PF/ESI Contributions Deduction

December 1, 2024 630 Views 0 comment Print

ITAT Bangalore allows deduction for timely employer PF/ESI contributions in Blue Moon Enterprises case, limiting disallowance to delayed employee contributions.

GST not includible while computing presumptive income u/s. 44B: ITAT Mumbai

November 28, 2024 1122 Views 0 comment Print

ITAT Mumbai held that Goods and Services Tax (GST) amount while computing presumptive income under section 44B of the Income Tax Act cannot be included. Thus, issue decided in favour of assessee.

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