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Sec 40(b)

This query is : Resolved 
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(Querist)
24 April 2010 Pls anyone give me the latest changes to sec 40(b) for the A.Y-2010-11
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
24 April 2010 FOR CALCULATION OF % BOOK PROFIT IS CHANGED
NOW SAME LIMIT FOR BUSINESS & PROFESSIONAL FIRMS

UP TO RS. 3 LACS OF BOOK PROFIT - 90% OR 1.5 LAC WEH
AND BALANCE OF BOOK PROFIT - 60% OF BOOK PROFIT

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