section 43B(H) is applicable from FY 23-24 or FY 24-25?
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43B(H) applicability
Replies (9)
24-25
Section 43B(H) is applicable from FY 23-24 or FY 24-25?
It's applicable from FY 23-24....
It's applicable from FY 23-24....
As said by earlier experts, it is applicable from 01.04.2023
This new Provision was announced in Finance Act 2023 but with words that it will be Applicable from 01-04-2024 onwards.
So if you have any outstanding balance on 31-03-2024, then it will don't have any Disallowances.
So if you have any outstanding balance on 31-03-2024, then it will don't have any Disallowances.
Sir give already notified the audit forms with the clause for declaring transactions made in violation of Sec 43B(h)
Rashmi Madam
I am not able to understood your reply.
Circular was notified in which clause for 43B(h) inserted in audit report from this year and same is applicable from 01.04.2023
Rashmi Madam,
You are correct, it is applicable from 01-04-2023 onwards.
I accept my mistake and I sorry for inconvenience caused to you and Thanks a lot for updating me about this.
I once again sorry for giving inherently incorrect information.
It's okk , it a public platform for changing knowledge and sometimes this type of mistakes happened.
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