Budget 2024-25: Proposed Increase in Deductible Remuneration for Working Partners in Partnership Firms

Last updated: 25 July 2024

Increase in limit of remuneration to working partners of a firm allowed as deduction Section 40 of the Act provides for amounts that shall not be deducted in computing the income chargeable under the head "Profits and gains of business or profession". Sub-clause (v) of clause (b) of the said secti

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Category Union Budget   Report

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