DISALLOWANCE UNDER SECTION 43(b)(h) OF INCOME TAX ACT
This query is : Resolved
Quick Summary
Suresh S. Tejwani
(Querist)
05 February 2024
If an individual trader purchases scrap from manufacturer registered under MSME act then if payment not made within specified time limit, will provision disallowance applicable for such trader under 43(b)(h)?
CA R SEETHARAMAN
(Expert)
05 February 2024
Yes, it's applicable..
Suresh S. Tejwani
(Querist)
05 February 2024
What if in vice versa cases if manufacturer purchases scrap from trader registered under MSME act?
CA R SEETHARAMAN
(Expert)
05 February 2024
It's not applicable for traders.
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