Finance act
This query is : Resolved
22 February 2014
from what period a particular finance act applicable (its tax rate & TDS rate ),and also know want to about what happens if particular budget passes after 31 march,(means applicability of procedural changes & rate changes for which assessment year is applicable).
Please illustrate with e.g just like you take finance act 2013
Please illustrate with e.g just like you take finance act 2013
23 February 2014
regardless of when the budget is passed, it would be applicable for the whole of financial year. For eg, finance act 2013, would be applicable for FY 2013-14. However, certain amendments, specially related to operational rules can be made applicable from any particular date. for eg, a rule amended can be made applicable from any date for eg 1 May 2013!
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