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Income tax amendment query

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29 March 2023 Hello, if they say w.e.f. from 01-04-2023 in finance act for any provision, does it mean it will be applicable from a.y.2024-25 onwards or does it mean notice issued after 01-04-2023 even for earlier a.y. as well.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
29 March 2023 In general, it means applicable from FY 2023-24; or AY 2024-25; unless specified otherwise.
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deepak singh

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deepak singh (Querist)
30 March 2023 Thank you sir....it means after amendments notices can only be issued for a.y.2024-25 onwards and not for any a.y. before that....
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
30 March 2023 The changes can be from prior date to, but it has to be specified.
Here the meaning is for term 'w.e.f. 01.04.2023.'

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