https://www.taxtmi.com/acts?id=48049 The amendment empowers the Assessing Officer to amend a partner's assessment where a firm's assessment, reassessment, any reduction or enhancement of the firm's income, or an order on the firm's application, shows that remuneration payable to a partner is not deductible under the deduction provision; the amendment directs that the partner's income be adjusted to the extent of the non-deductible remuneration and that the existing revision procedure and its four year limitation period shall apply, with the limitation period reckoned from the end of the financial year in which the firm's final order was passed. en-us Tue, 28 Jan 2025 13:22:17 +0530 Tue, 28 Jan 2025 13:22:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48049 The amendment empowers the Assessing Officer to amend a partner's assessment where a firm's assessment, reassessment, any reduction or enhancement of the firm's income, or an order on the firm's application, shows that remuneration payable to a partner is not deductible under the deduction provision; the amendment directs that the partner's income be adjusted to the extent of the non-deductible remuneration and that the existing revision procedure and its four year limitation period shall apply, with the limitation period reckoned from the end of the financial year in which the firm's final order was passed. Act-Rules F. Acts / Amendment Acts Tue, 28 Jan 2025 13:22:17 +0530 https://www.taxtmi.com/acts?id=48049