budget query Urgent

This query is : Resolved

amit (Querist)
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13 July 2009 hello experts
i m bit confuse regarding
while going through the finance bill 2009 i found this statements

"This amendment will take effect from 1st April, 2010 and will,
accordingly, apply in relation to assessment year 2010-2011 and
subsequent years."

what does it mean?

whether this amendment should be consider in Current year .F.Y 2009-10.....

if no,

Why there is" apply in relation to assessment year 2010-2011 and
subsequent years."

Does it means applicable for the persons whose income are assessed in the same previous year?
if yes , Plz tell me.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 July 2009 The law applicable on the first day of an assessment year should be applied for that assessment year. In view of this, if any section is effective from 1/4/2010,that law is applicable to assessment year 2010-11 and onwards.Hence the citation from the finance bill referred is correct in the eyes of law.

amit

amit (Querist)
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13 July 2009

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amit

amit (Querist)
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13 July 2009 Does it mean that this amendment should be consider in Current year .F.Y 2009-10...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 July 2009 Yes.