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Applicability of Budget 2011 in Exams

Zulfikar Surti (Student) (431 Points)

10 March 2011

Dear Friends,

Whether ammendments of budget 2011 applicable for November 2011 IPCC exams or not?

Kindly answer soon.

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6 Replies

Rachit (Ca-Final Article.) (565 Points)
Replied 10 March 2011

yes it will be applicable as any amendements come brfore 6 months of exams will be applicable in your attempt....................

1 Like

CA KETAN INANI (sharp & tannan(article trainee) Always Ready to help) (251 Points)
Replied 10 March 2011

Agreed with rachit

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Zulfikar Surti (Student) (431 Points)
Replied 11 March 2011

Thank you very much.

AVIJIT (CA FINALIST) (370 Points)
Replied 11 March 2011

I do not think so. As for Tax the amendments made by Budget 2011 will be applicable for P.Y.2011-12 or A.Y. 2012-13 while for Nov'11 exams the relevant P.Y. will be 2010-11 or A.Y. 2011-12.

Rachit (Ca-Final Article.) (565 Points)
Replied 11 March 2011

Dear Avijit its not like this ok......

any amendements come beor 6 month of your exam will b applicable in your attempt without considering

that what is Assessment or previous year..............

You are right about thaat buget 11 will be applicable for the same year you sad but what you sad about paper is not right at all.................

AVIJIT (CA FINALIST) (370 Points)
Replied 11 March 2011

Dear Rachit as far i think there is a bit of confusion regarding this. I tell you some thing very practical and that is I gave my exams in Nov'10 and for me the tax slabs were 160000, 300000 and 500000 while if it would have been as per your version then the applicable tax slabs would have been 160000,500000 and 800000. Regarding A.S. and S.A. I am not sure so it may be that what you are saying of 6months are applicable on these. Kindly clarify me if I am wrong.