« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  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.