SC refuses to entertain plea by Vyapar Mandal against 45 days pay rule
Mon, May 6, 2024 6:09 PM

SC refuses to entertain plea by Vyapar Mandal against 45 days pay rule

A Flip by Riya Sharma
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The Supreme Court on May 6 refused to entertain a plea by Federation of All India Vyapar Mandal challenging the constitutional validity of section 43 B (H) of the Income Tax Act.According to Section 43B(h) of the Income Tax Act, introduced through Finance Act 2023, if a larger company does not pay an MSME on time within 45 days in case of written agreements it cannot deduct that expense.

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