Remuneration Limit increase
This query is : Resolved
tapas aghera
(Querist)
25 November 2009
Sir, pls guide me in this matter....
As per amended act, the limit for the remuneration to partner has been increased..
It is stated in it that the increased amount shll be substituted by finance act, (No. 2) 2009, w.e.f. 01.04.10..
I have a question as to when it would be applicable. and will it be applicable for the previous year 2009-10 as it relates to assessment year 2010-11.
Will it be applied while preparing return for the assessment year 2010-11 ?
Do guide me on this....
As per amended act, the limit for the remuneration to partner has been increased..
It is stated in it that the increased amount shll be substituted by finance act, (No. 2) 2009, w.e.f. 01.04.10..
I have a question as to when it would be applicable. and will it be applicable for the previous year 2009-10 as it relates to assessment year 2010-11.
Will it be applied while preparing return for the assessment year 2010-11 ?
Do guide me on this....
HUZAIFA HUSSAIN
(Expert)
25 November 2009
YES IT IS APPLICABLE FOR FINANCIAL YEAR 2009-10 , RELEVANT ASSMT YR.2010-11
tapas aghera
(Querist)
25 November 2009
thanks for the reply... but why it is applicable to financial year 2009-10 as it is applicable from 1.4.2010 ?
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