U/S 43(B) IS APPLICABLE TO ALL DEALERS

This discussion clarifies the applicability of Section 43(B) of the Income Tax Act. It is generally applicable to all dealers, but with specific conditions. The section primarily applies to MSME registered suppliers in the micro and small sectors. It does not apply to traders, those not registered under the MSME Act, individuals filing Income Tax Returns under a presumptive scheme, or cases without proper books of accounts.