When suppliers make delayed payments made before filing of Income Tax returns for that year, then deductions can be claimed only in the year of actual expenses, and not in the year in which they were accrued. If the supplier has not informed the MSMEs about his registration to the UDYAM sc...
The new process provides an easy, quick, and simple method for registration that will be linked to information submitted under Income Tax and GST, hence being user friendly as well as keeping a check on the reliability of the information. The move is intending to promote ease of doing busines...