FBT Abolishment
This query is : Resolved
07 July 2009
Is The FBT is abolished with immediate effect or from 01st April 2010 ?
07 July 2009
w.e.f. 1.4.2009
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 Tilak
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