Question
What was the key amendment made to Section 43B of the
Income-tax Act, 1961 in April 2024?Solution
In April 2024, a new clause (h) was added to Section 43B of the Income-tax Act, 1961. This clause mandates that any payment due to micro or small enterprises (MSEs) beyond 45 days will be allowed as a tax deduction only when the payment is actually made. The purpose of this change is to: • Ensure timely payments to MSEs, • Address cash flow challenges faced by small businesses, and • Encourage buyers to settle dues promptly, thereby improving the overall financial health of the sector. This move strengthens compliance and offers a safeguard for MSEs against delayed receivables.
It will cruise in the atmosphere like an aircraft and it has capable of travelling up to  1,000 km.
The Supreme Court has done (A)/ three weeks to the state government to (B)/ be respondent to its directive and (C)/ file an affidavit citing all the de...
Directions: In each of the questions, a sentence has been divided into four parts, one of which may contain an error. Identify that fragment and mark i...
- Given below is a sentence with an error. The error is in one part of the sentence. Below the sentence are given the options containing the parts of the sen...
Just as astronomy offers a way of mapping the visible objects in the universe, gravitational wave astronomy is now a science of the near future whereby ...
In the following question, a sentence is given with a few highlighted words that may be incorrectly placed. Rearrange these words to form a sentence t...
Directions: In each of the questions, a sentence has been divided into four parts, one of which may contain an error. Identify that fragment and mark ...
The dust risen like (A) / billowing clouds as the (B) / cab pulled up around (C) / the corner of 5th A Cross. (D) / No error (E)
As the fire approached, firefighters are (1)/winched in by helicopter to activate the irrigation (2)/systems while other aircraft dropped water along (3...
Despite of the double dip recession and the lengthening dole queue Britain’s rich got richer over the past years, with the Indian steel tycoon Lakshm...
Relevant for Exams:
