MSME delayed payments: 45-day payment rule endorsed by MSME associations as beneficial, says FinMin
- Posted on November 26, 2024
- By Financial Express
- 1 Views
MSME delayed payments: 45-day payment rule endorsed by MSME associations as beneficial, says FinMin
In April this year, a new clause (h) was inserted in Section 43B of the Income-tax Act 1961 to provide that any amount payable by the buyer to a micro or small enterprise beyond 45 days will be allowed as deduction only on actual payment.
