Remunerationt to partners-amendment to deed

This query is : Resolved

Subramonian Moothathu.S (Querist)
Follow

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?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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).

Subramonian Moothathu.S

Subramonian Moothathu.S (Querist)
Follow

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

sriram deven

Taxlet

K.Govindarajan

efiletax

MAYANK

Subscribe Now

Remunerationt to partners-amendment to deed

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA