40(b)
This query is : Resolved
15 June 2010
Whether partnership deed needs to be amended to incorporate the new limits of remuneration to partners u/s 40(b)as amended by Finance Act 2009.
16 June 2010
Yes, it need to be amended.
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16 June 2010
But the new limits are only applicable from A.Y.2011-2012.Is it correct?
22 June 2010
possibly yes. depends upon the language of payment of salary and intt. clause of existing deed
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