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point17A of tax audit report u/s 44ab of IT Act

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2010 "Amount of interest inadmissible under section 23 of the Micro Small and Medium Enterprises Development Act, 2006"

sir can just tell me which type of companies are covered under the aforesaid act
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CA.RAJIV SHUKLA FCA

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CA.RAJIV SHUKLA FCA (Expert)
29 December 2010 Every Firm, Individual or Companies regisetered with Micro Small and Medium Enterprises Development Act, 2006" Covered for this clause.

Types of companies are covered under the aforesaid act is not a question but amount of investment in Plant & Machinery & Capital is the case for considerations.


Notional Interest liable to be disallowed on thier Outstanding Balances which is unpaid till the date of 31 march finalisation of the BS.
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