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Understanding Income Tax Provision 43B(h): Confusion Cleared for Tax Professionals & Taxpayers

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  • Опубликовано: 5 фев 2024
  • In this insightful session, we delve into the newly introduced Income Tax Provision 43B(h) that has stirred confusion among tax professionals and taxpayers alike. Join us as we address two crucial questions: Does 43B(h) apply to entities not registered under MSME? And does it extend to traders as well? Watch the entire video to unravel the intricacies of this important topic and gain clarity on the subject.
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    #IncomeTax #TaxProvision #Taxation #MSME #Taxpayers #TaxProfessionals #TaxLaw #IncomeTax43B(h) #Traders #TaxCode #Finance #BusinessTaxes

Комментарии • 87

  • @tarunsinghania2768
    @tarunsinghania2768 6 месяцев назад +3

    Cloth suppliers ko 30-40 days toh sirf cloth ready hone me lag jaate grey purchase , process , dying, cutting, stamping , pack hone me lagte to maal ready hone tak me 45 days ho gye to bina sale payment recieve k payment kaise hoga

    • @prathambatra899
      @prathambatra899 6 месяцев назад

      Bill date se hoga jis din dispatch/delivery hogi

  • @abhisheknagda9592
    @abhisheknagda9592 6 месяцев назад

    Namaste Sir,
    Aapki Videos practical ke sath interpretation of law bhi
    Hume sikhati hai.
    Thanks
    Section 43B(h) ke liye mera mat hai ki Registered Person hi MSME hai kyoki MSME Term hi Act se define Hui hai tho hume classification se lekar supplier tk sb MSME Act me hi pdhna caahiye.
    Income Tax Act, Micro or Small word ko MSME act se hi refer krta hai.

  • @shreyanshjain7673
    @shreyanshjain7673 6 месяцев назад +1

    Applicability of section 43b(h) on Agency commission provision as on 31/3/24 and payment is to made to agent when sale ammount recieved by seller i.e after 31/3/24

  • @parmarnageen7711
    @parmarnageen7711 4 месяца назад

    Sir your explanation is very clear 🙏🙏

  • @harmeetsingh8561
    @harmeetsingh8561 6 месяцев назад +5

    Traders bhi cover honge, unka MOTO yahi h ki chote firm, startups ka paisa jyada time na hold ho,paisa market m puri tareh se ghume.

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      ji mera bhi yahi opinion h

    • @prathambatra899
      @prathambatra899 6 месяцев назад

      Aur nhi to kya.. ye harami traders ne market me kachra kar rkha h

  • @bhavsardenish
    @bhavsardenish 5 месяцев назад +1

    i file ITR 4 . do i have to pay before 31st march?

  • @TarunKumar-jz8qy
    @TarunKumar-jz8qy 6 месяцев назад +1

    Traders ki koi payment nhi krta toh kya kura ? (Government/private buyer)

  • @ajayagarwal7689
    @ajayagarwal7689 6 месяцев назад +1

    100% Agreed, every one covered

  • @sneha.chaurasia
    @sneha.chaurasia 6 месяцев назад

    Sir how to show the figures in table 14 of gstr 1 if I have some negative sales of any state of past 1-2 months that is adjusted in January so how I show the values
    1.the only net sales of january which is total of all marketplaces TCS return value or
    2.After Adjusting the negative figues of old month and after subtracting the negative sales

  • @Princekvideo01
    @Princekvideo01 6 месяцев назад +1

    Sir kya me delhi ke msme certificate se rajasthan me bhi business kr sakta hu ya delhi ki hi location pr kr sakta hu bss

  • @user-sp7di8ij4m
    @user-sp7di8ij4m 6 месяцев назад

    If i am register in gst and i have only cash sale . In case if every time whenever i have to make to my supplier , i deposit cash same day and do rtgs of equivalent amount . This is repeatedly done for all the transactions.Is it a voilation of any income tax rule . I have shown cash bills in gst also .

  • @mahaveerassociates378
    @mahaveerassociates378 6 месяцев назад

    My main business activity is Trading Business[Wholesale and Retail]
    buying goods from both Manufacturer and Traders.
    Do i need to make payments to Manufacturer within 15/45 days who is registered as MSME[UDYAM]

  • @Sanjayindustries4203
    @Sanjayindustries4203 5 месяцев назад

    Sir if any person is traders and his work is only trading work but in MSME certificate mention Mfg words so what should we do ? We have to do payment?
    Reply please

  • @gsingh2198
    @gsingh2198 5 месяцев назад

    sir if someone is Trader and Also Manufacturer does 43(H) APPLICABLE OR NOT

  • @Nishant2188
    @Nishant2188 6 месяцев назад

    Sir Aadhe se Jyada party toh apna turnover nahi declare karti hai aur 2nd task unse MSME certificate ya Number mangna ya toh declaration mangna difficult hai aur Jaise aapka 2nd opinion hai Chahe woh register ho ya naa ho woh 43B(h) me applicable hoga but unka turnover kaise pata kare? Jab Tak woh samne se declare nahi karega and Last me income tax ye provision pe jor laga Rahi jab k year end aaya atelase Govt ko April se ye mandatory karna chahiye tha so professional ko difficulty na aaye aur logo ko samaj me.bhi aaye kaise prepare rahena hai

  • @KundanKumar-kd9mk
    @KundanKumar-kd9mk 6 месяцев назад

    Can we change in MSME manufacturing to Traders

  • @pakshalchoudhary4435
    @pakshalchoudhary4435 6 месяцев назад

    Sir me ek msme trader hu aur meine ek msme manufacturing ko material supply kya hai usne 45 days me payment nahi to kya uske income wo add hoga ??

  • @bharatchhabra6354
    @bharatchhabra6354 6 месяцев назад +5

    Sir mere opinion se jab tak Income Tax Departments Clear na kar de ki trader cover nhi hote jab tak Safe of sight par hume manna padega ki vo bhi MSME mei cover hote hai

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад +2

      Ji bilkul mera bhi yahi opinion h

    • @manishjain8080
      @manishjain8080 6 месяцев назад

      government unpaid bill ka income tax kase le sakti hain .Kya unpaid bill hamari income hain kya. Government pagal nahin hain Jo aise income tax le legi. Ye sab confusion CA log paida Kar Rahe hain .please kisi income tax commissioner se is matter ko clear kare

    • @Ajaiiprajapati
      @Ajaiiprajapati 4 месяца назад

      As per memorandum dated 1-09-2021 from office of DC MSME mentioned there in point 2 - In this context, some MSEFCs have been approached by Traders to get the benefits of provisions of delayed payments as per MSMED Act, 2006 available to MSEs. It is clarified that as mentioned in the aforesaid OM, the benefits to Retail and Wholesale trade MSMEs are restricted upto Priority Sector Lending only, and any other benefits, including provisions of delayed payments as per MSMED Act, 2006, are excluded
      Its clear that this provision not for TRADERS

  • @bharatchhabra6354
    @bharatchhabra6354 6 месяцев назад +1

    Ek question hai ki sir jo party MSME mei registered nhi hai to hume kaise pta chalega ki vo MSME hai agar vo mail par confirmation bhi nhi deti hai to

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      mere according to sabhi creditor cover honge jinki annual turnover upto 50 cr h chahye wo registered ho ya unregistered.

    • @ABCSarasiya
      @ABCSarasiya 6 месяцев назад

      Ek Question... !!!
      Govt. Kaise pata lagaega ke creditors ko uske rs. mile ke nahi ?
      Esq bhi sunne me aa raha he ke jiska audit hota he us par most off applicable hoga
      Qki ITR m kaise data legi Govt. ??

    • @ABCSarasiya
      @ABCSarasiya 6 месяцев назад

      ???

  • @ProAdvisors
    @ProAdvisors 6 месяцев назад

    Sir, what about disputed dues.

  • @PAWANSINGH-gb3jh
    @PAWANSINGH-gb3jh 6 месяцев назад

    (i) a micro enterprise, where the investment in Plant and Machinery or Equipment does not
    exceed one crore rupees "and" turnover does not exceed five crore rupees; (Sir, please clarify the meaning of "and" , whether traders required plant and machinery or equipment irrespective of turnover criteria)

    • @madhukumarshah8012
      @madhukumarshah8012 5 месяцев назад

      The traders do do not invest in plant and machinery. This is the qualifying condition for deciding micro small and medium as the fact that they don’t plant and machinery and the value do not appear in balance sheet and PNL account. How can they be considered for the benefit is there not registered under the act of Msme,2006

  • @Ramakanta_Meher
    @Ramakanta_Meher 4 месяца назад

    1 traders march 2024 me 50 lakh cloth kharidta hai MSME TRADERS SE
    Wo septemR 2024 TAK KPI PAYMENT NAHI KARTA NA HI CLOTH SALE KARTA HAI
    MEANS USKA 2023 24 me
    Op stock 0
    Purchase 50 lakh
    CLOSING STOCK 50 LAKH
    Sale 0 hai
    NOW WO jab INCOME TAX BHAREGA TO KITNA BHAREGA PLZ COMMWNT

  • @sauravagarwal4640
    @sauravagarwal4640 6 месяцев назад

    Sir turnover ke saath investment bhi dekhni hain ya nahi. Pls clear.

  • @nikhilsoni8710
    @nikhilsoni8710 6 месяцев назад

    Hi Sir
    Thank you for the providing information.
    I have a few confusions that require your assistance.
    According to this rule, when is the last date to clear all dues?

  • @sumitshukla3797
    @sumitshukla3797 6 месяцев назад

    So why government not clarify this . After 2 3 weeks now?

  • @kirankumarb4397
    @kirankumarb4397 6 месяцев назад

    Is there any due date for payment of TDS interest?

  • @anujkhaware9862
    @anujkhaware9862 6 месяцев назад

    I think you had not consider one point of view that traders are exclude from other benefits under MSME act that means traders is also exclude from the time limit of payment specified in section 15. And income tax act Said payment must be made as per section 15 of msme act. And as per sec 15 of msme act time limit of 15 / 45days is for manufacturer or service provider only. Traders will not get the benefits of section 15. So I think sec 43b of income tax act will not aplly in case of traders.

    • @anujkhaware9862
      @anujkhaware9862 6 месяцев назад

      Please refer OFFICE MEMORANDUM - 1/4(1)/2021-P&G/Policy Government of India Office of Development Commissioner (MSME) Ministry of Micro, Small and Medium Enterprises MSME Policy Division E-19630 Nirman Bhavan, New Delhi Dated: 01.09.2021
      www.dcmsme.gov.in/scan0052.pdf

    • @anujkhaware9862
      @anujkhaware9862 6 месяцев назад

      Please refer OFFICE MEMORANDUM - 1/4(1)/2021-P&G/Policy Government of India Office of Development Commissioner (MSME) Ministry of Micro, Small and Medium Enterprises MSME Policy Division E-19630 Nirman Bhavan, New Delhi Dated: 01.09.2021
      www.dcmsme.gov.in/scan0052.pdf

  • @Taxconstitution
    @Taxconstitution 6 месяцев назад

    2 nd question once any assessee exp. Is dis allowed then income of another assessee will be taxable or not in same year

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      Income for other assess is taxable as it fall under the preview of Sec 28.

    • @Taxconstitution
      @Taxconstitution 6 месяцев назад

      No sir..if once exp is disallowed then how u taxed the same to another

  • @jitendrabhaiprajapati5818
    @jitendrabhaiprajapati5818 6 месяцев назад

    Sir.. Ak.. Sarvish. Prowider... 20/.persant...or..materiual..treding.80.persant...karatahe...to..kay.ho.sakta.he

  • @bharatchhabra6354
    @bharatchhabra6354 6 месяцев назад

    Income Tax department disallowed kar denge expense ko trader vale jab tak unki taraf se clarity nahi aati ki trader cover honge ya nhi MSME mei

  • @Taxconstitution
    @Taxconstitution 6 месяцев назад

    Yha bilkul law interpretation h .. definition of enterprise doesn't include traders...second if any assessee not registered in msme then no dis- allowance and third everyone need to understand whether tax portion is dis allowed or not .law said anysum...

  • @souravjain4227
    @souravjain4227 6 месяцев назад

    In my opinion enterprise ke definition mein trader nai ate...so not covered

  • @sajjadmalitya4224
    @sajjadmalitya4224 6 месяцев назад

    Ji toh yeh clarification CBDT kab dega? Year toh almost khatam.

  • @umeshdaksh9047
    @umeshdaksh9047 6 месяцев назад +1

    ये व्यापारी और टैक्स प्रोफेशनल का शोषण करने के लिए लाया गया है।

  • @riddhimhatre4589
    @riddhimhatre4589 6 месяцев назад

    What if the seller doesn’t intimidate about him being msme?!

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      As per our view it is apply on all creditors

  • @vishnu9764
    @vishnu9764 6 месяцев назад

    Is it applicable if 1 msme pays to another msme?

  • @Nishant2188
    @Nishant2188 6 месяцев назад +1

    Govt.khud prepare hai nahi aur Dusro ko bhi prepare nahi hone degi 😂😂😂

  • @VishalGupta-kd9wm
    @VishalGupta-kd9wm 6 месяцев назад

    🤩

  • @user-eg8zg3dd7o
    @user-eg8zg3dd7o 6 месяцев назад

    why govt creates so much confusion.why they dont create tab itself on portal.this person is covered

  • @dakshboxer3330
    @dakshboxer3330 6 месяцев назад

    Sir 1.4.23 se pehli ki purchase par bhi lagu hoga ya nahi

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      Yes bilkul lagu hoga

    • @i-love-banaras
      @i-love-banaras 6 месяцев назад

      No it's applicable only from 1.4.23, any outstanding before 1.4.23 will not be disallowed

    • @pradeepkbagri
      @pradeepkbagri 6 месяцев назад

      YES , in my vies its not applicable any outstanding before 1.4.23
      @@i-love-banaras

  • @souravjain4227
    @souravjain4227 6 месяцев назад

    Enterprise ke definition mein trader toh include nai hote

  • @deepeshjain9593
    @deepeshjain9593 6 месяцев назад

    इस ऑफिस मेमोरेंडम से लगता है कि ट्रेडर्स शामिल नहीं है कृपया मार्गदर्शन करें

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад

      Pura video dekhiye samjhaya h

  • @yogeshjain8986
    @yogeshjain8986 6 месяцев назад

    Government nind le rhi h ?
    Wo clear kiu nhi krti kuch bhi
    By simple language. Kyu other law ko refer krti h jb unka lena dena hi nhi ho us law se

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад +1

      Yes clarification jaruri h in points se related

  • @rahul4884
    @rahul4884 6 месяцев назад

    @FINTAXPRO SIR I PURCHASE RAW MATERIALS FROM MY SUPPLIER AND SEND THE SAME GOODS TO JOBWORKERS FOR DYEING AND SELL DYED FABRIC TO MY CUSTOMERS. AM I A MANUFACTURER OR A TRADER. PLZ REPLY

  • @Up_ka
    @Up_ka 6 месяцев назад

    Govt.Pehle se Clerify Kyu nhi kar dete hai Rule ko
    Itna Vivadit ho gya hai ye is par abhi tak RUclips par 50 se zyada Video ban chuki hai

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад +1

      Bilkul clarification aana chahiye in important points p.

    • @CAyashpanjwaniji
      @CAyashpanjwaniji 6 месяцев назад

      Hone dijiye naa youtuber ki kamai hogi 😀🙏

  • @umeshdaksh9047
    @umeshdaksh9047 6 месяцев назад

    Sir aap to Demotivate kar rhe hai, aap khud sochkar dekhiye ki kya ye possible hai 😒

  • @vmmalpani2650
    @vmmalpani2650 6 месяцев назад +2

    Surrender your cop as all your opinion are baseless,pl go through circular by Govt in this matter

    • @FinTaxPro
      @FinTaxPro  6 месяцев назад +2

      If you are talking about Circular 1/2024 it doesn’t provide the clarification on the points mentioned in video.
      What is circular number and date you are taking about?
      If you don’t know specifics and don’t have guts to hear other POV then shut your mouth 🤫
      Who the hell you to decide my points are baseless. Are you serious? I have explained both the POV and reasons behind both the views.
      Don’t preach here what should i do or not just because i am not saying what you want to hear.

    • @Finance_taxation_update
      @Finance_taxation_update 6 месяцев назад

      😂😂😂😂😂

    • @mohitjain851
      @mohitjain851 6 месяцев назад

      Mal Pani. Are u an Idiot ? U expect him to surrender his cop for his opinion? Then u must eat shit . Cuz ur thoughts are crap !