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Effective dates of various provisions. Of BUDGET -09-10.

 

 In the Income Tax side, most of the provisions of the Finance Bill will come into force with effect from 01.04.2010; here is a list of some important provisions and their effective dates.

 

INCOME TAX

Sl. No.

With effect from

Subject

1.

01.04.2011

Amendment to Section 44AA - Maintenance of Accounts

2.

01.04.2011

Amendment to Section 44AB - Audit of Accounts

3.

01.04.2011

Section 44AD Substituted - Presumptive Income

4.

01.04.2011

Amendment to Section 44AE - Income from goods Transport.

5.

01.10.2009

Amendment to Section 50C - Value of Capital asset transferred

6.

01.10.2009

Amendment to Section 56 - Transactions without consideration of more than Rs. 50,000/-

7.

01.04.2003

Amendment to Section 80A - Deductions

8.

01.10.2009

Amendment to Section 80G - Charitable Institutions

9.

01.04.2008

Amendment to Section 80IA - Power Generation

10.

01.04.2000

Section 80IB Tax Holiday

11.

01.10.2009

Section 90 Substituted - DTAA -

12.

01.10.2009

Amendment to Section 92C - Transfer Pricing - Arm's Length Price

13.

01.04.1998

Amendment to Section 115JA - Deemed Income

14.

01.04.2001

Amendment to Section 115JB

15.

01.10.2009

Amendment to Section 131 - Discovery, Inspection etc - Dispute Resolution Panel included

16.

01.06.1994

Amendment to Section 132 - Search and Seizure - Additional Commissioner Empowered

17.

01.10.2009

Amendment to Section 139A - PAN - Quarterly removed

18.

01.04.1989

Amendment to Section 147 - Reassessment - Scope enhanced

19.

01.10.2009

Section 194C Substituted - TDS - Payment to Contractors

20.

01.10.2009

Amendment to Section 194I - TDS - Rent

21.

01.10.2009

Amendment to Section 200 - Quarterly Returns gone - Periodicity to be prescribed

22.

01.10.2009

Amendment to Section 201 - TDS failure

23.

01.10.2009

Amendment to Section 203A - Quarterly Statement is no more quarterly

24.

01.10.2009

Amendment to Section 206A & 206C - Quarterly to unspecified period

25.

01.10.2009

Amendment to Section 246A - Dispute Resolution Panel

26.

01.10.2009

Amendment to Section 253 - Appeal to ITAT - Dispute Resolution Panel

27.

01.06.2007

Amendment to Section 271 - Concealment of Income

28.

01.04.1988

Amendment to Section 271B - Provisional Attachment

29.

01.10.2009

Substitution of Section 282 - Service of Notice - Courier and Email recognized

30.

01.10.2010

New Section 282B - Allotment of Document Identification Number

31.

01.10.2009

New Section 293C - Power to Withdraw approval

CUSTOMS

 

Sl. No.

With effect from

Subject

1.

01.07.2003

Amendment to Section 130 - High Court's Power to condone delay

2.

01.07.1999

Amendment to Section 130A - High Court's Power to condone delay

Central Excise

 

Sl. No.

With effect from

Subject

1.

01.07.2003

Amendment to Section 35G - High Court's Power to condone delay

2.

01.07.1999

Amendment to Section 35H - High Court's Power to condone delay

Service Tax

 

Sl. No.

With effect from

Subject

1.

A date to be notified

The Intaxication beer effect - amendment to Section 65(19)

2.

16.05.2008

Acquiring instead of providing- amendment to clause zzzze - Information Technology

3.

A date to be notified

New services

4

01.01.2005

Exemption to services provided to GTAs

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