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Companies and vendors are trying to escape the impact of an Income Tax law taking effect this year

Under the law - section 43B(h) of the Income Tax Act - whose impact would be felt for the first time this year, a business entity failing to pay its vendors registered as `micro or ‘small (MSE) within 45 of delivery, would not get the deduction of its purchase in the year of the purchase but can claim the deduction only in the year of ‘actual payment. Thus, deduction disallowance for unpaid outstanding would increase the taxable income and tax of companies for FY24. ....

Madhya Pradesh , Anurag Poddar , Gautam Nayak , Narayan Rane , Manish Dafria , Paras Savla , Nirmala Sitharaman , Income Tax , Income Tax Law ,

MSE: Businesses navigate new tax law impacting MSE payments, seek government intervention

The new law under Section 43B(h) of the Income Tax Act, which mandates payment to micro and small enterprises (MSEs) within 45 days of delivery to claim deductions, is causing concern and leading to various strategies by businesses and vendors to mitigate its impact. Some companies are attempting to avoid the law s impact by sending letters to vendors without expecting responses, while others are issuing post-dated cheques or raising objections within 15 days of delivery to delay payment obligations. ....

Uttar Pradesh , Madhya Pradesh , Manish Dafria , Paras Savla , Nirmala Sitharaman , Anurag Poddar , Narayan Rane , Gautam Nayak , University Of Western Australia , Offering College , Income Tax Act , Corporate Journey , Strategic Skill , Product Officer , Executive Officer , Msmed Act ,

MSE: Businesses navigate new tax law impacting MSE payments, seek government intervention

The new law under Section 43B(h) of the Income Tax Act, which mandates payment to micro and small enterprises (MSEs) within 45 days of delivery to claim deductions, is causing concern and leading to various strategies by businesses and vendors to mitigate its impact. Some companies are attempting to avoid the law s impact by sending letters to vendors without expecting responses, while others are issuing post-dated cheques or raising objections within 15 days of delivery to delay payment obligations. ....

Madhya Pradesh , Narayan Rane , Gautam Nayak , Nirmala Sitharaman , Paras Savla , Manish Dafria , Anurag Poddar , Income Tax Act ,

Hindustan Chamber Of Commerce to Organise 5TH Edition of "ASIATEX – 2023" Textile Trade Fair from 31ST August TO 2ND September, 2023 at Mumbai

Hindustan Chamber Of Commerce to Organise 5TH Edition of "ASIATEX – 2023" Textile Trade Fair from 31ST August TO 2ND September, 2023 at Mumbai
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.

India General , Uttar Pradesh , Nirmal Kumar Gupta , Sanjeevd Bubna , Sajjan Kumar Dokania , Anurag Poddar , Vinodj Lodha , Uttamv Jain , Shikharchand Jain , Hindustan Chamber , World Convention Centre , Hindustan Chamber Chikitsalay , Committee Is Sushilr Gadia , Ministry Of Commerce , Marwari Commercial High School Junior College , Convener Of Public Relations Committee , Trade Fair , Convention Centre , Public Relations , Vice President , Kalbadevi Road , Marwari Commercial High School , Junior College ,

Hindustan Chamber Of Commerce to Organise 5TH Edition of ASIATEX 2023 Textile Trade Fair from 31ST August TO 2ND September, 2023 at Mumbai

Hindustan Chamber Of Commerce to Organise 5TH Edition of ASIATEX 2023 Textile Trade Fair from 31ST August TO 2ND September, 2023 at Mumbai
webindia123.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webindia123.com Daily Mail and Mail on Sunday newspapers.

Uttar Pradesh , India General , Uttamv Jain , Nirmal Kumar Gupta , Sajjan Kumar Dokania , Vinodj Lodha , Sanjeevd Bubna , Shikharchand Jain , Anurag Poddar , World Convention Centre , Hindustan Chamber Chikitsalay , Hindustan Chamber , Committee Is Sushilr Gadia , Convener Of Public Relations Committee , Marwari Commercial High School Junior College , Ministry Of Commerce , Trade Fair , Convention Centre , Public Relations , Vice President , Kalbadevi Road , Marwari Commercial High School , Junior College ,