22 September 2011
Please tell which section under the income tax act,1961 provides the provision regarding the adoption of previous finance act, in case there is no new finance act being adopted as on 01.04 of the year in which the new finance bill is proposed?
24 September 2011
Every year there is a finance act which is presented in the Parliament in the month of February. If Fiance Act, 2011 is referred it related to the assessment year 2011-12 as the same is effective only from the 1st of April, next year.
Now, which finance act you are referring is not known to us. Kindly clarify
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