Question

What was the significant change made to Section 43B of the Income-tax Act 1961 in April 2024 this year?

A Introduction of a higher tax rate for delayed payments to MSEs.
B Insertion of a clause allowing deductions for payments to MSEs only if paid within 45 days.
C Abolishment of tax benefits for big companies dealing with MSEs.
D Mandatory government oversight on all transactions with MSEs.
E A complete exemption from tax for micro and small enterprises.
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