Taxmann's Analysis | How to Report Disallowance Under Section 43B(h) in Form 3CD?

· Taxmann Publications Private Limited
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The article analyses the amendment made to Clause 26 of Form 3CD through CBDT Notification G.S.R. 155(E), dated 05-03-2024, in relation to Section 43B(h) concerning delayed payments to MSEs. It also provides the tax auditor's responsibilities in reporting amounts disallowable due to delayed payments to MSEs, including:

‣ Amendment made to Clause 26 of Form 3CD as regards Section 43B(h)

‣ Need/Rationale for the amendment

‣ Problems/issues with the amendment made to Clause 26

‣ CBDT's Corrigendum 

‣ Implications and Impact of the Corrigendum Notification

‣ Points to be kept in mind by the tax auditor for reporting in amended Clause 22

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Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries and Lawyers. This team works under the guidance and supervision of Editor-In-Chief Mr Rakesh Bhargava.


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