Attn Friends/Seniors,
As per Topic Title, Under Indian Income Tax Act, previously therewas clause that Upto First 3 Lakh, 90% of the book profits were to be distributed between/amongst partners.
From this year, this clause has been changed to Upto First 6 Lakh, 90% of the book profits were to be distributed between/amongst partners.
My query is shall I prepare New Deed during the current year or next year ?
Thanks in advance.
CAclubindia
