Bare ActsThe micro, small and medium enterprises development act, 2006

Section 23

Interest not to be allowed as deduction from income.

Amendment status not verified — confirm the current text below against the official source.

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.

Section 23 – The micro, small and medium enterprises development act, 2006 | DailyLaw.ai