08 July 2009
As there is an amendment in section 80E. Please clarify from which date it is applicable. It is written in Finance Bill that " The proposed amendment will take effect from the 1st day of April, 2010 and will, accordingly, apply in relation to assessment year 2010-2011 and subsequent years."
plz tell me whether is amendment is applicable from 1st April 2009 or 1st April 2010?
10 July 2009
The amndement in the budget generally apply for the assessment year, thus are applicable to a FY which is relates to that AY unless otherwise stated. In this case since the amendment takes effect from 01.04.2010, this mean it is applicable to AY 2010-11 for which the FY is 2009-10. For this reason I agree with Ratan and Tialk.
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