Msme payment query

This discussion clarifies the income tax implications of late payments to MSME manufacturers. If goods were purchased on April 1st, 2024, and paid for within 150 days (before the financial year ends), the expense is generally allowed as a deduction for the current financial year. The consensus is that such payments, even if delayed beyond 45 days but within the financial year, do not pose an issue for claiming the expenditure.