Income Tax Query

Page no : 2

CA kanica gupta (Employed C.A.) (273 Points)
Replied 10 September 2010

Thanks sandeep. I think u r right.

But does this rule apply to all amendments? be it prospective or retrospective?

(Guest)

hey.... u r right...

its applicable from.. 1-04-2000 i.e. P.Y. 2000-01 And AY 2001-02

siri (CFO) (174 Points)
Replied 10 September 2010

hai kanika sir,

MY OPINION IS THE SEC. SUBS. IN FINANCE BILL 2010. WHICH IS APPLICABLE FOR THE A.Y.2011-12, I WILL GIVE U ONE EXAMPLE LIKE THIS. "AS PER FINANCE (NO.2) BILL,2009 SAYS AMMENDEMENTS TO SEC.40-REMUNERATION TO PARTNERS IN A FIRM (w.e.f.01.04.2010).SO IT IS APPLICABLE A.Y.2010-11. SO MY OPINION IS A.Y.2011-12.

I HOPE WITH THIS U MAY GET CLARITY..

Sneha (Practicing Chartered accountant) (65 Points)
Replied 13 September 2010

A.Y.2011-12

Ranganath (MAnager) (21 Points)
Replied 29 May 2011

Hello Sir,

Recently in the budget, FM has enhanced teh taxable income for senior citizens (above 80 years ) to Rs 500000/- . I looked at Incometaxindia web site for this info. I could not fidn it.

can u pelase provide me the link where i can get it in incometaxindia web site?

Thanks in advance for thsi info

regards

Ranganath