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Sec40(b)

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(Querist)
22 March 2013 sir,
book profits rs.111098/- then what is the salary eligible as per IT Act
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CA.M.V.RAMACHANDRA RAO

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CA.M.V.RAMACHANDRA RAO (Expert)
22 March 2013 if it is authorised by the partnership deed then Rs. 1,50,000 maximum deduction allowed u/s 40(b)
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