https://www.taxtmi.com/article/detailed?id=12430 Payments to micro and small enterprises are deductible only on actual payment where such payments exceed the MSME statutory time limits; the ordinary proviso allowing accrual deduction if paid by the return filing due date does not apply to these delayed payments. Only suppliers qualifying as micro or small enterprises and identified through registration fall within this rule; advance payments remain deductible in the year paid and cheque handover is regarded as payment. en-us Sat, 16 Mar 2024 10:18:36 +0530 Sat, 16 Mar 2024 10:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12430 Payments to micro and small enterprises are deductible only on actual payment where such payments exceed the MSME statutory time limits; the ordinary proviso allowing accrual deduction if paid by the return filing due date does not apply to these delayed payments. Only suppliers qualifying as micro or small enterprises and identified through registration fall within this rule; advance payments remain deductible in the year paid and cheque handover is regarded as payment. Articles Income Tax Sat, 16 Mar 2024 10:18:36 +0530 https://www.taxtmi.com/article/detailed?id=12430