FAQs on Timely Payments to MSME – An Interplay between Sec. 43B(h) of the Income-tax Act & MSMED Act

uthor: CA Srinivasan Anand G.

Year: 2025

About the Book:
This focused guide offers practical clarity on the convergence between Section 43B(h) of the Income-tax Act and the provisions of the Micro, Small and Medium Enterprises Development (MSMED) Act. It explains the statutory obligation to make timely payments to Micro and Small Enterprises (MSEs) and the consequences of non-compliance, including tax disallowances and interest liabilities.

The book is structured around frequently asked questions, real-world case studies, flowcharts, and compliance checklists. It equips businesses, tax practitioners, and academicians with an in-depth understanding of buyer responsibilities, evolving regulatory expectations, and best practices to manage compliance effectively.

Key Features:

• Explains the legislative intent and scope of Section 43B(h) and its integration with the MSMED Act

• Clarifies the consequences of delayed payments to registered MSEs, including disallowance of expenditure under Income Tax

• Covers updated definitions, Udyam Registration requirements, and related compliance procedures

• Includes FAQs, charts, timelines, and real-world illustrations for enhanced practical application

• Discusses audit disclosures, board-level responsibilities, and risk mitigation strategies for businesses

• Guides readers through record-keeping, vendor verification, and documentation protocols

Ideal For:

• Chartered Accountants and Tax Professionals

• CFOs, Accounts Heads, and Compliance Officers

• MSME Business Owners and Buyers dealing with MSMEs

• Legal Professionals and Academicians

• Auditors and Consultants advising on statutory disclosures

Hashtags:
#MSME #IncomeTax43B #MSMEDAct #TimelyPayments #TaxCompliance #43BCompliance #UdyamRegistration #Section43B #MSMEIndia #FinanceAct2025 #taxmann #9789364559584

Caveat Legalis: Description based on available details—interpret with due diligence!