Remunerationt to partners-amendment to deed
This query is : Resolved
17 October 2009
As per the new provisions,limits set in section 40(b)(v) is enhanced.Will the amendment have retrospective effect from 01-04-2009 so that the revised limits can be incorporated in the deed of partnership at any time during the previous year 2009-10?
17 October 2009
The amendment will take effect from April 1,2010.i.e., in relation to assessment year 2010-11 and subsequent years. As regards the payment at the enhanced rate, if the provision is incorporated in the instrument of partnership at any time during the previous year 2009-10, benefit can be availed only from the date of execution of the deed because of the proviso to section 40(b).
22 October 2009
Thank You Sir!!!!!!!!!!!!!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Reporting of STCG on Property in ITR
- Annual return of gst limit
- Capital gain of property recd from partnership firm
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
