please help!!!!!!!!!!

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Final Student
427 Points Posted on 08 December 2009

section 40(b) remuneration to partners in a firm

Proposed remuneration structure ( both for Professional & non professional to bring uniformity)                                                 

on the first Rs. 3,00,000 of the book-profit or in case of loss
 
Rs. 1,50,000
 or
@ 90 per cent of the
      book-profit, whichever is more
 
on the balance of the book-profit
 
at the rate of 60 per cent;
 

This amendment will take effect from 1st April,2010 & accordingly effected from 2010-11
 

can u plz tel me from which date the above stated amendment is effective??????

Is it from assessment year 10-11,???? that means it is effective from 1st april 09???????
 
 

 

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On 08 December 2009 at 20:51 Report
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Cost & Management Accountant
71609 Points Posted on 08 December 2009

Sec 40B Amendment Effective from Assessment year 2010-11 so it is effective financial year 2009-10 i.e 1st April 2009

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On 08 December 2009 at 21:17

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