Finance act 2012


This query is : Resolved 

04 January 2013 in Finance Act 2012 specifies that some amended provisions will be applicable from 1.4.2013 e.g. section 80CCG
section 68
section 80D
section 80 TTA etc. however such prov. applicable in A/Y 13-14, why?

The provisions applicble from 1.4.2013 related with P/Y 13-14 i.e. A/Y 14-15, so why it applicable from A/Y 13-14?

please explain


04 January 2013 Hi

Finance Act Basically mentions changes in taxes in current financial year wrt to Direct Taxes & also covers advance tax rates for coming financial year too.

It also mentions enactment of new law for the benefit of assessee in advance as per their regular practice.

Thanks!!


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