https://www.taxtmi.com/acts?id=43557 Amendment increases the remuneration limit for working partners under the disallowance rule in section 40(b)(v) by raising the fixed-amount allowance applicable to the first portion of book profit and preserving the alternative percentage-based benchmark; the comparative rule between the fixed allowance and the percentage of book profit is accordingly adjusted. The change is effective for the fiscal period commencing April 1, 2025 and applies to the subsequent assessment year. en-us Tue, 23 Jul 2024 15:30:42 +0530 Tue, 23 Jul 2024 15:30:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=43557 Amendment increases the remuneration limit for working partners under the disallowance rule in section 40(b)(v) by raising the fixed-amount allowance applicable to the first portion of book profit and preserving the alternative percentage-based benchmark; the comparative rule between the fixed allowance and the percentage of book profit is accordingly adjusted. The change is effective for the fiscal period commencing April 1, 2025 and applies to the subsequent assessment year. Act-Rules Bills Tue, 23 Jul 2024 15:30:42 +0530 https://www.taxtmi.com/acts?id=43557