The new change to Section 43B of the Income Tax Act, 1961, helps small and medium-sized Businesses. It says that these businesses should be paid within 45 days of sending an invoice. This change is meant to help these businesses manage their money better and grow steadily.
Companies need to pay small and medium-sized suppliers on time to follow this new Rule. If they don't, they might have to pay fines or extra charges. To follow this rule, companies should set up good systems for paying bills, keep accurate records, and watch their money flow carefully.
Antraweb Technologies Pvt. Ltd. has a special tool called the MSME module. This tool helps businesses follow the new rule by keeping track of payments and making sure bills are paid on time.
To learn more about how to handle payments to MSMEs and follow the new rule in the Income Tax Act. Click the link below to find out about our special MSME module. It can help your business deal with these new rules and grow steadily.
Make Sure To Make Payments Within 45 Days To MSMEs.
