As per the Amendment made by the Finance Act, 2023 clause (h) has been inserted under section 43B, emphasizing that any sum payable by an assessee to a micro or small enterprise beyond the time limit specified in Section 15 of the MSMED Act , 2006 shall not be allowed as a deduction in the year in which the payment is due rather it shall be allowed as deduction only in the year in which the payment is actually made.
Tax_Update_Section-43Bh