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Retrospective amendts in fin act 2010 for nov 10 exam

Others 698 views 4 replies


There are some amendemendts made by Fin Act 2010 which have a retrospective effect from 1.10.09 eg
sec 56(2)(Vii)
b) any immovable property :-

i) without consideration, the stamp duty value of which exceeds Rs. 50,000 , the stamp duty value of such property the shall be treated as income of the individual or HUF.

ii) for a consideration which is less than the stamp duty value of the property by an amount exceeding Rs. 50,000 the stamp duty value of such property as exceeds such consideration shall be treated as income of the individual or HUF.: [Omitted w.r.e.f. 1-10-2009 by the Finance Act, 2010)

are these amendements relevent for Nov 2010 exams

Replies (4)

everyone is in doubt in this regard

no one knows exactly whether these are applicable on or not

as we have budget 2009 in syllbus with circulars/notification till april30,2010 not budget so this should not be applicable

more suggestions are invited on this view,

thx

yes it is applicable in nov 10 exams....In may 2010 they dint applied it but for nov it will be applied for sure...!!

dear friends

this is relevant for nov.10 exams.it is included in the institute supplementary material for may10 and nov.10 and it may come this time.

but there are two sections which are applicable for p/y 09-10. i.e before 1.10.09 and on or after 1.10.09.

before 1.10.09 old provision for gift will be applicable.

regards

tarun rustagi

thanks for this info


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