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: Interest not to be allowed as deduction from income.
The Micro, Small and Medium Enterprises Development Act, 2006Central Act · Act 27 of 2006
Where this provision sits
| Act | The Micro, Small and Medium Enterprises Development Act, 2006 |
|---|---|
| Section | 23 |
| Marginal note | Interest not to be allowed as deduction from income. |
| Jurisdiction | Central |
| Status | In force as published by the source |
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
- Search 49,000+ Central and State enactments by what a provision says, not by its number
- Jump from any section to every judgment that has applied it
- Search 300 million+ Indian court records alongside the statute
- Ask a research agent to find and read the case law on a provision for you
Free account. No card. About a minute to create.
Create a free accountNeed this as data, not as a page? The Micro, Small and Medium Enterprises Development Act, 2006 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.