budget 2019 application on ay 2020-21 filing return?
and TDs changes rates applicable in quarter 1 return for ay 2020-21 or not? kindly explain
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budget 2019
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When any budget comes, it becomes effective from 01/04/20** of the same year.
for example for the budget 2019 previous year will be 01/04/2019 - 31/03/2020.
And AY will be 2020-21, So ITR of AY 2020-21 will prepared on basis of budget of 2019.
And TDS rate will applicable from 01/04/2019 onwards.
Generally the budget comes on 1st of February of each year but in case of change in government the budget announced again by the new government.
for example for the budget 2019 previous year will be 01/04/2019 - 31/03/2020.
And AY will be 2020-21, So ITR of AY 2020-21 will prepared on basis of budget of 2019.
And TDS rate will applicable from 01/04/2019 onwards.
Generally the budget comes on 1st of February of each year but in case of change in government the budget announced again by the new government.
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