Recent Amendment to IT Section 43B(h) Impacts MSME Enterprises | Tax Professional Blogs | Scoop.it
From blogs.compliancecalendar.in - February 2, 5:09 AM

This page discusses Section 43B of the Income Tax Act, which allows deductions for certain costs under the category of 'Income from business and profession.' The deduction is allowed on an actual payment basis rather than an accrual basis, which means it can only be claimed in the year in which the payment is made, not when it becomes due.