# The Micro, Small and Medium Enterprises Development Act, 2006, Section 23: Interest not to be allowed as deduction from income

- Act: The Micro, Small and Medium Enterprises Development Act, 2006 (Act 27 of 2006)
- In force from: 2006-10-02
- Ministry: Ministry of Micro, Small and Medium Enterprises
- Source URL: https://indiacode.ecourtsindia.com/micro-small-medium-enterprises-development-act-2006/section/23/

## Text

Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961), the amount of interest payable or paid by any buyer, under or in accordance with the provisions of this Act, shall not, for the purposes of computation of income under the Income-tax Act, 1961, be allowed as deduction.

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