experts help me

Please correct your views as under : 

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Well the finance act 2010 gives income tax rates for the assesment year 11-12.

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The logic behind the above is as under : 

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1. Financial year ends on 31 03 2010.

2. Rates for Financial year are to be provided one year before of relevant financial year i.e. on or before 01 04 2009.

3. Hence in the budget 2009; rates for FY 2009-10 would be prescribed.

4. Financial year's ending books are assessed next year because before the books are closed; how assessment would be made ?

This is the reason that assessment year is quoted one year in advance. 

5. Practically, Returns of A.Y.2010-11 are to be filed before the end of 31 03 2011.

6. In this way; previous year's returns are filed in next financial year.

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Hope you find it satisfactory.  

Finance Act,2010 gives income tax slab rates for A.Y. 2011-12. and for F.Y. 2010-11.

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