As per last session i believe that if outstanding payment to purchase of more than 45 daye is paid before filing of return it will be valid payment for last financial year but our c a informed me that if the payment is made after 31st march payment will not be consider for this financial year and purchase will not be allowed please share your views on above subject he has given me circular i attached it for your ready reference
i fail to open our new portal of chartered wisdom i am student for last two lecture and i have become member of your new scheme and i have the made the payment of Rs 4999
please guide me how to open new portal for any query
As per Budget 2023 amendment, a new sub clause (h) has been inserted in section 43B, if payment to MSME not made within 45 days then it will not considered under Income Tax, suppose bill raise in the month of March-24 (FY 2023-24) and made after end of financial year but before filing of Income tax return so it is allowable and considered that payment has been made in FY 2023-24