All about the New 45 Days Payment Rule for MSME Registered Units - Section 43B(h)
Mar 19, 2024
New Delhi [India], March 19: Starting from the year 2024-25, there's a new rule for companies. They must pay any pending bills to small businesses within 45 days. If they don't, they'll have to pay more tax for the years 2023-24. This is because they can only claim deductions for payments they make in that year. Companies need to follow this rule to avoid extra taxes.