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PY income to be taxed as per slabs of which finance act..

Dream CA Achieve CA (20 Points)

31 January 2022

Income of previous year 21-22 will be taxed as per slab rates given by finance act 2021 or finance act 2022..??

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6 Replies

Nidhi (Chief Accountant) (3150 Points)
Replied 31 January 2022

Finance Act 2021

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Eswar Reddy S (CFO- at NHTF) (58275 Points)
Replied 31 January 2022

We are using FA 2020 for AY-2021-22.
So FA 2021 is applicable for 2021-22 PY ( AY-2022-23 )

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prasad Nilugal ( GST Practitioner & Accounts ) (14811 Points)
Replied 31 January 2022

Tomorrow is Budget (1-1-2022) , So Finance bill will be table tomorrow in Lok sabha , that bill will get approval from both houses of parliament ,Lok sabha and Rajya sabha , after that getting ancient from Honorable presedent of India , same bill will become ACT and that will be FINANCE ACT 2022 .
For F.Y 21-22 Finance Act 2021 will applicable.

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