Direct Tax
This query is : Resolved
06 July 2009
The Income Tax Limit Increased by Rs.10000/- will come into effect from A Y 2009-2010 or A Y 2010-2011.
Ratan Sharma
(Expert)
06 July 2009
A.Y. 2010-11
06 July 2009
agree
CA Kartik Pandya
(Expert)
06 July 2009
dear Janani, finance bill is for 2010-11
CA Suresh Choudhary
(Expert)
06 July 2009
agree
taxindiaconnect
(Expert)
10 July 2009
The amendment in the budget generally apply for the assessment year, thus are applicable to a FY which is relates to that AY unless otherwise stated. In this case since the amendment takes effect from 01.04.2010, this mean it is applicable to AY 2010-11 for which the FY is 2009-10. For this reason I agree with earlier experts
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