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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 3741 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 3279 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 2322 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 28983 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 13311 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 429 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 918 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 3915 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 111 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 219 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 3222 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


Mere Disagreement Doesn’t Justify invocation of Section 263 Revision Power: Madras HC

November 25, 2024 849 Views 0 comment Print

Madras High Court held that issue relating to pre-closure premium was already considered and allowed by the assessing authority. Thus, invocation of revisionary power u/s. 263 for mere disagreement with the view of the assessing authority is unjustified in law.

Disallowance of amount of employees’ share to ESI and PF after due date justifiable: ITAT Bangalore

November 19, 2024 879 Views 1 comment Print

ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is liable to be disallowed. Accordingly, matter referred back for limited purpose of verification of payment challans.

Contribution to EPF/ESI beyond due date of respective Act duly disallowed: ITAT Jaipur

November 19, 2024 594 Views 0 comment Print

ITAT Jaipur held that disallowance of contribution of EPF/ESI of employees contribution justified since amount deposited beyond the due date of respective Acts. Notably, deduction is not allowance even if contribution is deposited before filing of return u/s. 139(1).

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

November 5, 2024 3279 Views 0 comment Print

Finance Act, 2023, has inserted section 43B(h) to facilitate timely payments to MSMEs by withholding deduction on account of delayed payments beyond prescribed timelines under the MSMED Act.

Disallowance of Dividend Income was deleted as sec. 44 overrides sec.14A in computation of income for Insurance Companies

October 29, 2024 1113 Views 0 comment Print

Disallowance on dividend income claimed by ICICI Prudential Life Insurance was deleted as Section 44, being a non-obstante clause, overrides the provisions of Section 14A of the Income Tax Act, 1961, in computing income for life insurance companies.

No disallowance u/s. 43B for unpaid GST as deduction not routed through P&L: ITAT Ahmedabad

October 28, 2024 933 Views 0 comment Print

Allahabad High Court in the case of CIT vs. U P Hotels Pvt. Ltd. has held that in case assessee has not claimed any deduction in respect of its liability for payment of luxury tax, no question of addition under section 43B will arise.

No Due Date for Employee’s NPS Contribution under PFRDA Act: ITAT Ahmedabad

October 23, 2024 2385 Views 0 comment Print

ITAT Ahmedabad held that PFRDA Act, 2013 doesn’t prescribed any due date for payment of employee’s contribution to National Pension Scheme (NPS). Thus, since payment is made before filing return u/s. 139(1), the same is allowable u/s. 43B(b) of the Income Tax Act.

Disallowance of expense impermissible as it is not claimed in P&L: ITAT Surat

October 22, 2024 543 Views 0 comment Print

ITAT Surat held that when any expense is not claimed, no disallowance is permissible. Accordingly, disallowance u/s. 43B on account of unpaid service tax not warranted as the same is not claimed as deduction in P&L account.

Employee’s share in PF to be deposited as per due date fixed by EPF Act: Rajasthan HC

October 17, 2024 381 Views 0 comment Print

Rajasthan High Court held that share of the employee in the provident fund deducted by the employer, has to be deposited as per the due date fixed by the EPF Act and ESI Act concerned and not as per Section 43B of the Income Tax Act.

Disallowance u/s 14A was computed @ 0.5% of exempt income earned based on Rule 8D(2)(iii)

October 9, 2024 369 Views 0 comment Print

Assessee challenged the disallowance before the Chennai bench of ITAT arguing that the disallowance of Rs. 134.25 crore under Section 14A was excessive and not justified because only Rs. 74.98 lakh had been spent to earn the exempt income.

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