https://www.taxtmi.com/article/detailed?id=476 Amendment raises the maximum allowable partner remuneration under section 40(b) by prescribing higher percentages of book profit and a fixed minimum allowance in loss cases, effective for the previous year beginning 1 April 2009; distributions must conform to the partnership deed or a unanimous amendment, and the author supplies a model deed revising remuneration calculation, allocation between working partners, treatment of monthly drawings, and a deemed-amendment clause to align the deed automatically with future legislative changes. en-us Wed, 02 Sep 2009 00:00:00 +0530 Wed, 02 Sep 2009 17:03:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=476 Amendment raises the maximum allowable partner remuneration under section 40(b) by prescribing higher percentages of book profit and a fixed minimum allowance in loss cases, effective for the previous year beginning 1 April 2009; distributions must conform to the partnership deed or a unanimous amendment, and the author supplies a model deed revising remuneration calculation, allocation between working partners, treatment of monthly drawings, and a deemed-amendment clause to align the deed automatically with future legislative changes. Articles Income Tax Wed, 02 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=476