The article analyses the amendment made to Clause 26 of Form 3CD through CBDT Notification G.S.R. 155(E), dated 05-03-2024, in relation to Section 43B(h) concerning delayed payments to MSEs. It also provides the tax auditor's responsibilities in reporting amounts disallowable due to delayed payments to MSEs, including:
‣ Amendment made to Clause 26 of Form 3CD as regards Section 43B(h)
‣ Need/Rationale for the amendment
‣ Problems/issues with the amendment made to Clause 26
‣ CBDT's Corrigendum
‣ Implications and Impact of the Corrigendum Notification
‣ Points to be kept in mind by the tax auditor for reporting in amended Clause 22
