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of <h1>Finance Bill 2010: Section 35DDA Amended for LLPs, Affects Amortization of Voluntary Retirement Expenses Starting April 2011.</h1> Clause 11 of the Finance Bill, 2010, amends section 35DDA of the Income-tax Act, effective April 1, 2011, concerning the amortization of expenses from voluntary retirement schemes. It introduces sub-section (4A), applying existing provisions to limited liability partnerships that succeed private or unlisted public companies under specific conditions. Additionally, sub-section (5) is amended to ensure that the predecessor company cannot claim deductions in the year of conversion to a limited liability partnership. These changes apply from the assessment year 2011-2012 onwards.
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