Manan Rajdev

Chartered Accountant

[Manan Rajdev @CARAJDEV]

@UnionBankTweets vyom application is not reflecting all open IPO...

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Everything about Section 43B(h)

Section 43B(h)-Payment based deduction for amount payable to micro and small enterprise

👉Applicable from AY 2024-25 onwards
-Not Applicable for Transaction pertaining to on or before 31/03/2023

👉Due Date for Payments
-15 Days from Date of Acceptance if No Written Agreement
-45 Days from Date of Acceptance if Written Agreement is there

👉Applicable for Amount payable to micro and Small Enterprise (MSE) who are manufacturers or service providers
-Not Applicable for amount payable to medium enterprises
-Not Applicable for amount payable to unregistered MSEs
-Not Applicable for amount payable to traders because their registration on UDYAM portal is for the purpose of priority sector lending only

👉Applicable for the amount payable for Goods & Services
-Not Applicable for actionable claims and money
-Not Applicable on Interest on Loans as it is not goods nor services
-Not Applicable on Salary as it is not goods nor services
-Not Applicable on Amount Payable for Capital Goods as it was not claimed as Expense

👉Definitions
-Buyer means whoever buys any goods or receives any services from a supplier for consideration
-Supplier means a micro or small enterprise, which has filed a memorandum with the authority referred to as u/s 8(1)
-Manufacture means processing of raw material or inputs in any manner that results in emergence of a new product having a distinct name, character and use

👉Not Applicable for Buyer filing ITR u/s 44AD/44ADA/44AE (Presumptive Taxation)
-These sections have overriding effect over section 28 to 43C, so section 43B(h) not applicable
-If buyers turnover below 10 Crore and Cash transactions is below 5% then audit u/s 44AB is not applicable but Books of Accounts are required to be maintain, in such cases section 43B(h) is Applicable

👉If Amount payable to MSE is liable to TDS and that TDS is also not paid to government then dis-allowance will be u/s 43B(h) only and not under section 40(a)(ia)

👉If Amount payable to MSE is inclusive of GST then dis-allowance will be limited to the amount exclusive of GST because GST was never claimed as expenses so it can't be dis-allowed as expenses

👉Form 3CD for FY 23-24 are yet to be notified by Income Tax Department so what to be reported in Form 3CD will be known once the notification of Form 3CD by Departments

(All these are my personal views and not a legal advice)

Follow @TaxationUpdates for more updates
#TaxationUpdates

[Kajal HINDUsthani @kajal_jaihind]

Hahaaa अब्दुल को बुरा लगेगा भाई, ये विडियो आपको पोस्ट नहीं करना चाहिए था😂😂😂

[Manan Rajdev @CARAJDEV]

@SpeakerMcCarthy @PMOIndia @narendramodi @SenSchumer @RepJeffries @SpeakerMcCarthy alignment is not proper in your invitation, next time be take care of the same

[Manan Rajdev @CARAJDEV]

@cbic_india @GST_Council When appreciation certificate for FY 22-23 will be issue...

[Manan Rajdev @CARAJDEV]

@FinMedium Where is @AdaniOnline

[Anshul Saxena @AskAnshul]

Adult toy store 'Besharam' published painting of Menaka and her daughter Shakuntala on its website, depicting them as a lesbian couple.

Distortion and misappropriation of cultural lores is freedom of expression?

[Shiva Tripathi (Inactive) @shivatripathii]

श्रद्धा...

#Shraddha

[Manan Rajdev @CARAJDEV]

@cricket_trol Now PCB also has a money #PAKvsBAN

[Ajeet Bharti | Point Blank @AjeetBhartii]

जज का दुस्साहस देखिए कि वो कह रहा है कि यहाँ लेक्चर मत दो, जब अधिवक्ता ने उससे संविधान में लिखी बात बताई।

[Manan Rajdev @CARAJDEV]

@cgstcuspunezone @cbic_india Please upload videos at YouTube

[Anshul Saxena @AskAnshul]

February 2022: Harsha was killed by radicals in Karnataka’s Shivamogga.

Now, all those accused who were arrested over murder of Harsha, are uploading reels, photos, videos on Instagram from Parappana Agrahara Central Prison, Bengaluru

How did they get mobile phones inside jail?

[Lala @FabulasGuy]

1. How can she practice her religion at home?

2. Why can’t she practice her religion at school?

[Manan Rajdev @CARAJDEV]

#buycotthyundai

[Manan Rajdev @CARAJDEV]

મોટા થયા બાદ અમુક વાતો પરિવાર ને નથી કહી શકાતી,
ત્યારે જે બ્રહ્માસ્ત્ર કામ આવે એનુ નામ "મિત્ર"

[Vinod Kapri @vinodkapri]

हर शुक्रवार
गुड़गाँव में यही हो रहा है
हर शुक्रवार

राष्ट्रपति @rashtrapatibhvn , उपराष्ट्रपति @MVenkaiahNaidu , प्रधानमंत्��ी @narendramodi , मुख्यमंत्री @mlkhattar
आप सब संविधान के रक्षक हैं , इसीलिए आप इन पदों पर हैं।
ज़रा भी लाज बाकी है आप सब में

[Manan Rajdev @CARAJDEV]

Why @SDhawan25 not a part 15?
#AskTheExpert @StarSportsIndia

[Manan Rajdev @CARAJDEV]

Refund paid by @IncomeTaxIndia bifurcation not updated on 26AS since 6months