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A Doubt

Vijay Kumar ACA,ACS (Member in Service) (197 Points)

16 October 2010

Hai

Can any one tell me weather the finance act 2010 which makes amendments to certain sections of the act from 01.10.2009

is applicable to coming Nov 2010 CA exams

Example:section 56 (2)

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10 Replies

n!tE$h GarG (CA Final) (216 Points)
Replied 16 October 2010

those amendments which were applicable in may 10, only that will b applicable in nov 10

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Sunshine (Helping All) (10575 Points)
Replied 16 October 2010

yes its applicable..read the rtp its given there in detail..

NUKUL GARG (Senior Associate Consultant) (1231 Points)
Replied 16 October 2010

No the amendments of FA 2010 are not applicable for Nov.10 exam,these are from May'11 onwards.

RAKESH (Almost CA) (2199 Points)
Replied 16 October 2010

Originally posted by : NUKUL Garg
	No the amendments of FA 2010 are not applicable for Nov.10 exam,these are from May'11 onwards.

Manoj BG (Tax Professional and in Service) (1795 Points)
Replied 17 October 2010

agreed with nukul..

Regards,

manoj

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CA Priyank (Priyank Sanghavi & Co) (296 Points)
Replied 17 October 2010

WE WOULD STICK TO FINANCE ACT 2009 & NOT TO FOLLOW FINANCE ACT, 2010 ALTHOUGH THERE ARE RETROSPECTIVE AMENDMENTS.

The reason for that

1. Amendments applicable to us onle up to 30.04.2010

2. Finance Act 2010 is enacted in may-2010 as approved in respective legislation.

3. As on 30.04.2010, the said act is only proposed act and not come in the nature of act

4. In RTP, they have solved Q.no.11 according to finance act,2009 and not 2010

CA Himanshu Bansal (Risk Manager) (2345 Points)
Replied 17 October 2010

Originally posted by : NUKUL Garg
	No the amendments of FA 2010 are not applicable for Nov.10 exam,these are from May'11 onwards.

Agreed.

CA Ruby (CA) (101 Points)
Replied 17 October 2010

Originally posted by : NUKUL Garg
	No the amendments of FA 2010 are not applicable for Nov.10 exam,these are from May'11 onwards.

vipul jain (EFFORTS NEVER FAIL) (2894 Points)
Replied 17 October 2010

The amendment made by the finance act 2010 including retrospective amendment, are not applicable nov. 10 examination...

For example------

The finance act 2010 has amended section 56(2)(vii) to remove transfer of immovable property for inadequate consideration from its scope right from the date of introduction of this provision i.e. date of insertion of section 56(2)(vii), being 1st october, 2009. .....but for the purpose of nov 2010 examination this amendment has not been considered even though the same is applicable retrospectively from 1st october, 2009, being the date of introduction of this provision.....