MSME Payment within 45 Days Rule | Sec 43b(h) of Income Tax Act | New 45 Days Payment Rule of MSME

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Section 43B(h) of the Income Tax Act has a crucial amendment, aimed to ensure timely payments to Micro and Small Enterprises (MSEs). This amedment is effective from April 1, 2023 (FY 2023-24 & AY 2024-25). This section imposes disallowances of delayed payment which impacting the taxable income of the assessee. It is applicable for all purchases made from Micro and Small (Manufactuing and Service) Enterprises registered under the MSMED Act, 2006.
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Chapters:
00:00 - Introduction
00:38 - Classification of MSME
01:29 - Section 43B(h)
02:36 - Example 1
04:34 - Example 2
05:54 - Impact on Buyer's book
06:38 - Important Measures
07:14 - Conclusion
Disclaimer: The content presented in this video is intended for informational and educational purposes only. While we strive for accuracy, we do not guarantee the completeness or applicability of the information. Viewers are strongly encouraged to independently verify the details and seek professional advice tailored to their specific circumstances. The creators assume no liability for any losses or damages incurred due to the use of the information provided in this video.
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[@ashish7051]

Very well explained and very good information about MSME.

[@Nama_CA]

Glad you liked it

[@agarwaldilip8792]

Easy to understand and very helpful content..... Thanks for the video....keep it up 👍🏼

[@Nama_CA]

So nice of you

[@Itsmylife1311]

Very well explained and thank you for taking example of march month bill.

[@Nama_CA]

Glad it was helpful!

[@Newspalpal]

Explained, in detail,thanks a lot

[@Nama_CA]

You are welcome

[@tharungarg36]

Super explain 🎉

[@Nama_CA]

Thank you

[@nupuragarwal5424]

Nicely explained

[@Nama_CA]

Thanks

[@kavyaagarwal7223]

Nice😼 informative....

[@Nama_CA]

Thanks

[@laveshsinghal5936]

Well, video is very usefull to understand full section 43B(h) of income tax and all its clause

[@Nama_CA]

Happy to hear this.

[@swetaagarwal3171]

👍

[@PawanSoni-mq3il]

Nicely explained !!

[@Nama_CA]

Thank you 🙂

[@laveshsinghal5936]

What if 16/2/23 ke bad ka payment FY 2024-25 mai kabhi bhi kare toh FY 24-25 mai deduction ho jayega ..??

[@Nama_CA]

31 march 2024 ka payment 15 may 2024 tak kr skte h…n payment aur late (kbi b in fy 24-25) h toh jis yr mai payment kiya h matlab ki fy 24-25 mai mil jayega

[@Nama_CA]

Don’t worry deduction jarur mileage agar payment kiya h toh….bs fy payment wala hoga