https://www.taxtmi.com/acts?id=47991 The amendment disallows deductions for partner payments not authorised by, or not in accordance with, the partnership deed, including remuneration to non-working partners and unauthorised remuneration or interest; allows validation by a deed during the relevant previous year for a specified assessment year; caps deductible interest at eighteen per cent. simple interest for periods after a deed's date; and imposes aggregated remuneration ceilings for working partners computed by reference to book-profit with distinct slabs for professional/notified firms and other firms, with explanations on representative partners, definition of book-profit, and working partner. en-us Tue, 28 Jan 2025 12:23:34 +0530 Tue, 28 Jan 2025 12:23:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47991 The amendment disallows deductions for partner payments not authorised by, or not in accordance with, the partnership deed, including remuneration to non-working partners and unauthorised remuneration or interest; allows validation by a deed during the relevant previous year for a specified assessment year; caps deductible interest at eighteen per cent. simple interest for periods after a deed's date; and imposes aggregated remuneration ceilings for working partners computed by reference to book-profit with distinct slabs for professional/notified firms and other firms, with explanations on representative partners, definition of book-profit, and working partner. Act-Rules F. Acts / Amendment Acts Tue, 28 Jan 2025 12:23:34 +0530 https://www.taxtmi.com/acts?id=47991