Amendment of section 43B.

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..... s such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf shall be substituted; (ii) in clause (g), after the word assets, , the word or shall be inserted; (iii) after clause (g), the following clause shall be inserted, namely: (h) any sum payable by the assessee to a micro or small enterprise beyond the tim .....

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..... 6.). - Clause 13 of the Bill seeks to amend section 43B of the Income-tax Act relating to certain deductions to be only on actual payment. It is proposed to amend clause (da) of the said section, to substitute the expression a deposit taking non-banking financial company or systemically important non-deposit taking non-banking financial company with such class of non-banking financial .....

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..... e purposes of the said section. These amendments will take effect from 1st April, 2024 and will, accordingly, apply in relation to the assessment year 2024-2025 and subsequent assessment years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT .....

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