Telecom Regulatory Authority of India Act : Amendment of section 44AD. Indian Bare Acts :

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : Amendment of section 44AD.

12. Amendment of section 44AD. In section 44AD of the Income-tax Act,- (i) in sub-section (2), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1994, namely:- "Provided that where the assessee is a firm, the salary and interest paid to its partners shall be deducted from the income computed under sub-section (1) subject to the conditions and limits specified in clause (b) of section 40.". (ii) sub-section (5) shall omitted.