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2025-26 Tax Audit Changes for MSMEs by Ekta is a document available to read on EtoBox.

What is 2025-26 Tax Audit Changes for MSMEs about?

The Finance Minister announced amendments to Section 43B of the Income Tax Act regarding deductions for payments to micro, small and medium enterprises (MSMEs). Section 43B is proposed to be amended to disallow deductions for transactions with MSMEs where timely payments are not made within the time limit prescribed under Section 15 of the MSME Development Act of 2006. This will take effect from assessment year 2024-2025. Disallowance under Section 43B will be attracted if the supplier is a micro or small e

Author

Ekta

Language

EN