sir please clear my doubt
This query is : Resolved
12 July 2016
sir, today i read that rate applicable on 1april of assessment year will used for tax calculation of a.y. then why finance bill 2015 applicable for may2016 exam which is a.y. 16 -17.I mean why finance bill 2016 doesn't applies on a.y.16-17 in exam
12 July 2016
That is because the finance act is not passed when May, 2016 exams are held and you study the latest Act which is the FA 2015. Study material and books for FA 2016 will be available only from Nov/Dec onwards. Therefore, FA 2015 is also applicable for Nov 2016 exams.
Message likes :
1 times
12 July 2016
thank u so much ,sir
but sir in reality finance bill passed in p.y.will applicable for that previous year tax calculation.is this statement write besides exams.
12 July 2016
Correct but the FA in force on 1st April, 2016 is FA 2015 hence the provisions in force on this date apply to PY 2015-16.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
