I am confused... Please Help me....
Under the finanace act 2008, 40A(3) is amended and it is mentioned that this amendment will be applicable from A/Y 2009-10.
So My question is, Will it be applicable from 01-04-2008 or 01-04-2009 ?
CA. Varun Soni (Chartered Accountant) (201 Points)
15 September 2009I am confused... Please Help me....
Under the finanace act 2008, 40A(3) is amended and it is mentioned that this amendment will be applicable from A/Y 2009-10.
So My question is, Will it be applicable from 01-04-2008 or 01-04-2009 ?
amiya
( )
(114 Points)
Replied 15 September 2009
This amendment will take effect from 1st April, 2009 and will accordingly apply in relation to assessment year 2009-10 and subsequent assessment years..
CA. Varun Soni
(Chartered Accountant)
(201 Points)
Replied 15 September 2009
thats mean this amendment will not be applicable for previous year 2008-2009
Rajeev
(www.rkmco.com)
(985 Points)
Replied 20 September 2009
ofcourse it is applicable for previous year 08-09 ( assessment year 09-10)
Debashis Mandal
(Business & Tax Consultancy)
(341 Points)
Replied 20 September 2009
Dear Friends,
Rajeev is absolutely correct
as u r talking about Sec.40A(3), ie Rs. 35000 or 20000 above such amount if any cash payment is made then such amount will not be deducted, then such payment is disallowed in the AY 2009-2010, but when such payment is to be made for such disallowance ? it must be in the previous year 2008-2009
Thanks
Debashis
CA Anurag Garg
(Chartered Accountant)
(339 Points)
Replied 20 September 2009
from 01/04/08 to 31/03/09 ie PY 08-09 n AY 09-10
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