23 August 2009
Clause 17A of form no. 3CD mentions about inadmissibility of interest u/s 23 payable to SMEs. But the same can be claimed u/s 43B of the income tax act, 1961. So what is the relevance of introducing this new clause? Is there any specific requirement to introduce clause 17A in form 3CD?
01 September 2009
No, MSMED interest cannot be claimed as a deduction under any section because MSMED Act was given over riding status as to any other law provisions.
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