Promoting timely payments to Micro and Small Enterprises

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Full Text of the Document

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....oviso of this section allows deduction on accrual basis, if the amount is paid by due date of furnishing of the return of income. 2. In order to promote timely payments to micro and small enterprises, it is proposed to include payments made to such enterprises within the ambit of section 43B of the Act. Accordingly, it is proposed to insert a new clause (h) in section 43B of the Act to provide th....