Payment disclosure obligations require half yearly filing of supplier dues and reasons for delay, with specified supplier verification.
Companies receiving supplies from micro or small enterprise suppliers must file Form 1 MSME half yearly disclosing amounts due and reasons for delay where payments remain due beyond the statutory payment period; an initial return must report outstanding dues as of the notification date with supplier identification and delay reasons, and periodic returns must include the same particulars even if dues were later paid. Supplier status must be verified by submitted Udyog Aadhaar/registration and classification under the MSMED Act; auditors and companies must ensure documentation, disclosure in annual accounts, and tax treatment consistent with the Act's interest and disallowance provisions. (AI Summary)

Active Company verification requirement: filing e Form ACTIVE enforces company verification; non compliance blocks subsequent statutory filings.
Rule 25A mandates that companies incorporated on or before the cut off must file e Form ACTIVE (INC 22A) to verify corporate existence, registered office (including coordinates and photographs), auditors and KMPs, with OTP verified company email and digital signatures. Exceptions exist for companies with outstanding statutory filing defaults (subject to registrar recorded management disputes), struck off or insolvent/amalgamating entities, and where director DINs are unapproved. Filings deficient in prescribed particulars may be marked Active Non Compliant, blocking acceptance of key subsequent statutory forms until the company files a compliant e Form and pays the prescribed fee to regain Active Compliant status. (AI Summary)

Presumptive taxation under Section 44AD limits deductions and prescribes bank receipt rates, altering audit and bookkeeping obligations.
Presumptive taxation under Section 44AD provides a cash receipt based method for computing business income with reduced deeming rates for receipts through specified banking channels and higher rates for other receipts, subject to the overriding effect of ordinary profit determination provisions except where Section 43B applies. Amendments altered deductibility of partner remuneration, expanded turnover eligibility, imposed advance tax applicability, and linked any opt out from the regime to mandatory books and audit obligations for succeeding assessment years. Exclusions cover certain professions, commission, and agency businesses, and mixed activities can disqualify a taxpayer from the scheme. (AI Summary)