Deduction timing change: payments to micro and small enterprises deductible only on actual payment, altering accrual relief. Amendment makes sums payable to a micro or small enterprise beyond the MSME Act time limit deductible only on actual payment, removes accrual-based allowance where payment is made by return due date for such enterprises, replaces specified non-banking financial company wording with a government notified class, and adopts MSME Act definitions of micro and small enterprise for the provision.
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Provisions expressly mentioned in the judgment/order text.
Deduction timing change: payments to micro and small enterprises deductible only on actual payment, altering accrual relief.
Amendment makes sums payable to a micro or small enterprise beyond the MSME Act time limit deductible only on actual payment, removes accrual-based allowance where payment is made by return due date for such enterprises, replaces specified non-banking financial company wording with a government notified class, and adopts MSME Act definitions of micro and small enterprise for the provision.
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