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incom tax

This query is : Resolved 

28 November 2009 AS finance act is usually passed in the month of feb.(specifing the rates) so in which year these rate will apply.
pls explain with example

28 November 2009 Example:-
The Finance (No 2) Act,2009 is generally applicable for the financial year 2009-2010 unless specifically restrict in any sections to give effect to prospective or retrospective applications.

29 November 2009 E.g. finance Act 2009 will be applicable for Financial year 2009-10

29 November 2009 A.Y 2010-11

29 November 2009 thanks for ur valuable answers.


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