Doubt regarding finance act

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lavanya (Querist)
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15 June 2015 Income earned in PY 2014-15 is taxed in AY 15-16.. Rates in which Finance act are applicable for charging income earned in PY 2014-15.. FA 2014 rates are applicable or FA 2015?? Please help me..i am very much confused..thank you

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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15 June 2015 for PY 2014-15 i.e., AY 2015-16 rates of Finance Act 2014 will be applicable.

For PY 2015-16 i.e., AY 2016-17 rates of Finance Act 2015 will be applicable.

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lavanya

lavanya (Querist)
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15 June 2015 Thank you sir.
Sir for TDS on salary and advance tax relating to AY15-16 Which rates are applicable?? FA 2015 rates or FA 2014 rates

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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15 June 2015 For both TDS and Income Tax same Finance Act will be applicable.

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