budget query Urgent
This query is : Resolved
13 July 2009
hello experts
i m bit confuse regarding
while going through the finance bill 2009 i found this statements
"This amendment will take effect from 1st April, 2010 and will,
accordingly, apply in relation to assessment year 2010-2011 and
subsequent years."
what does it mean?
whether this amendment should be consider in Current year .F.Y 2009-10.....
if no,
Why there is" apply in relation to assessment year 2010-2011 and
subsequent years."
Does it means applicable for the persons whose income are assessed in the same previous year?
if yes , Plz tell me.
i m bit confuse regarding
while going through the finance bill 2009 i found this statements
"This amendment will take effect from 1st April, 2010 and will,
accordingly, apply in relation to assessment year 2010-2011 and
subsequent years."
what does it mean?
whether this amendment should be consider in Current year .F.Y 2009-10.....
if no,
Why there is" apply in relation to assessment year 2010-2011 and
subsequent years."
Does it means applicable for the persons whose income are assessed in the same previous year?
if yes , Plz tell me.
13 July 2009
The law applicable on the first day of an assessment year should be applied for that assessment year. In view of this, if any section is effective from 1/4/2010,that law is applicable to assessment year 2010-11 and onwards.Hence the citation from the finance bill referred is correct in the eyes of law.
13 July 2009
Does it mean that this amendment should be consider in Current year .F.Y 2009-10...
13 July 2009
Yes.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
