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remuneration to partners

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(Querist)
01 April 2010 Whether amendments made by Finance Act 2009 with regard to remuneration to partners are applicable to the accounts of FY 2009-10. Because the Finance bill 2009 states that the provisions shall be applicable from 01-04-2010 AY 2010-11.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 April 2010 The substituted section will take effect from 01/04/2010 and will apply in relation to the assessment year 2010-11 and subsequent years.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
01 April 2010 Agreed with the view of applicability for the FY 2010-2011
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
01 April 2010 agree with expert

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