New Msme Rules: Section 43b (h) Explained | MSME New Rules | What is Section 43B (h) | ca sudesh
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- Опубліковано 20 лют 2024
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The newly added clause (h) to section 43B of Income Tax Act 1961, states that any sum payable by the assessee to a Micro and Small Enterprises beyond the time limit set in Section 15 of the MSMED Act, 2006, is not eligible for deduction.
This deduction is applicable in the previous year when the sum is actually paid. Clause (h) of Section 45B essentially states that any sum payable by a larger enterprise or entity to a registered MSME beyond the stipulated deadlines won’t be considered a deductible expense in the year the liability was incurred.
New Msme Rules: Section 43b (h) Explained | MSME New Rules | What is Section 43B (h) | ca sudesh
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Team Income Tax Wala
Very easily you explained all the points awesome
Thanks and welcome
Wonderful explanation sir🎉
Thanks and welcome
Sir you told 5 effects and their solution very efficiently which can save taxes a lot. Thanks Thanks Thanks so much sir
You are most welcome
Very detailed and clear video
thanks, keep watching and sharing
Sir if we have made payment to msme in advance but he fails to supply the material....
Or if after placing order on basis of proforma and invoice issued by msme but he did not deliver the goods..
Then also is this provision applicable?
Not applicable
Sir what is the date of Applicability of section 43B (h) of income tax whether 01/04/2023 or 01/04/2024
01/04/2023
@@incometaxwallah thankyou sir
welcome
It is applicable w.e.f 01.04.23 . It is written in law that the clause (h) is inserted in Sec 43B by Finance Act 2023 w.e.f 01.04.24 it means AY beginning from 01.04.24 I.e AY 2024-25 .Hence, FY 2023-24.
In Income Tax , dates are interpreted in terms of AY unless specifically mentioned.
95% provisions of finance act 2023 applicable w.e.f. 01/04/2023. and 43 Bh is one of them. it is applicable for year started from 01/04/2023
awesome informational content
Glad you think so!
Thanks sir for your awsome and extremely informative, useful videos, I have one doubt - that I received advance from a customer whose work is under process. no billing is done and no goods are deliver. Then are these MSME Provision applicable on such payment also.
Msme section 43bh provision are not applicable on advance taken for under process products
Interest is in compound basis sir?
no compounding, but 3 times of normal saving bank interest as fixed by RBI
@@incometaxwallah okay sir.. thanks so much... I need some clarification why equity shares with differential rights is issued?
nice question, differential right is set by MD / Owner of company to keep the voting right safe with himself.
@@incometaxwallah thanks a lot sir
Whether 45 days starts from date of invoice or receipt of goods?
Receipt of goods
Sir marginal relief to bahut azzeb h 7 lakh k uper jitni income h man lijiyega 1000 extra h to bus 1000 per tax dedenge ??? 7,01,000 per new tax main STCG main 36,556 ka tax bn raha tha ab sirf marginal relief k karan 1000 extra denge or 4 % cess please 🙏 doubt clear Krna sirji😊
jald hi theek ho jayega . ye problem hain
i appriciate you, as you raised a valid point
@@incometaxwallah thanks 🙏
big fan sir. I wish for a chance to meet you
Sure
Sir i had to ask that only manufacturers are beneficiary under this section or traders are also beneficient ?
all covered
Sir, i have question,
I am running a business of several UA-cam channels, and you know that 1 adsense per person, iss liye for example
Mere papa ke name pe ak channel hai mammi ke name pe ak and mere name pe ak,
Mene ak company banayi hai, ab kya me unko apni company me employee bata sakta hu and unka income company ka income, and as sara Paisa adsense ka hai to uspe LUT apply karunga, GST bachane ke liye. And company ke total income pe income tax dunga.
Plz sir answer ❤
Haa esa krte h Kai long😅
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