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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;
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???????
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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