« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Restore standard deduction to the salaried... `Where expensive is often more cost-efficient than cheap'... » New law for SMEs from Oct 2 September, 30th 2006 The new law for the small and medium enterprises will come into force on October 2, the Government announced on Friday. The Micro, Small & Medium Enterprises Development Act 2006 envisages dispensing the two-stage registration process of micro and small enterprises. The legal provisions to check delayed payments to these enterprises has been strengthened with the payment period for buyers reduced to 45 days, and the rate of interest on outstanding amount increased to three times the prevailing bank rate of RBI, compounded on monthly basis. Announcing the date here, Mr Anupam Dasgupta, Secretary, Ministry of Small-Scale Industries, said, "A promotional package for these enterprises will be announced next month after approval by the Cabinet Committee on Economic Affairs". Under the new law, the State Governments will be asked to constitute facilitation councils for micro and small enterprises, and no appeal against the order of the council will be entertained by any court without deposit of 75 per cent of the decreed amount payable by the buyer.