# The Finance Act, 2023, Section 13: Amendment of section 43B

- Act: The Finance Act, 2023 (Act 8 of 2023)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2023/section/13/

## Text

Amendment of section 43B. 13.  In section 43B of the Income-tax Act, with effect from the 1st day of April, 2024,— (i) | in clause (da), for the words "a deposit taking non-banking financial company or systemically important non-deposit taking non-banking financial company", the words "such class of non-banking financial companies as may be notified by the Central Government in the Official Gazette in this behalf" shall be substituted; (ii) | in clause (g), after the word "assets,", the word "or" shall be inserted; (iii) | after clause (g), the following clause shall be inserted, namely:— "(h) any sum payable by the assessee to a micro or small enterprise beyond the time limit specified in section 15 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006),"; (iv) | in the proviso, after the words "nothing contained in this section", the brackets, words and letter "[except the provisions of clause (h)]" shall be inserted; (v) | in Explanation 4,— (I) | for clause (e), the following clause shall be substituted, namely:— '(e) | "micro enterprise" shall have the meaning assigned to it in clause (h) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006);'; (II) | for clause (g), the following clause shall be substituted, namely:— '(g) | "small enterprise" shall have the meaning assigned to it in clause (m) of section 2 of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006).'.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.