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 
Menu
Retrospective amendts in fin act 2010 for nov 10 exam
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
Recent Topics :
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
Related Topics :
CAclubindia
