MSMEs

New MSME Support Fund Launched in Union Budget 2024-25 to Address 45-Day Payment Rule Challenges

August 3, 2024Posted inIncome Tax Act 1961, Income Tax Department, Indian Budget, MSME, Tax Deducted at Source, The Finance Act 2023, Union Budget 2024-251 Comment
In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman has addressed the contentious 45-day payment rule that affects micro, small, and medium enterprises (MSMEs). This rule mandates that traders must…