Interest on Delayed Payment under Section 16 of the MSMED Act and its Allowability under the IT Act The MSMED Act, 2006, provides for interest on delayed payments to Micro and Small Enterprises (MSEs). The interest rate is three times the bank rate, compounded monthly. Section 16 of the MSMED Act 1. Interest on…
The post Interest on Delayed Payment under Section 16 of the MSMED Act and its Allowability under the IT Act appeared first on The Tax Talk.
