• Every Year, Central Government passes Budget where it makes Changes to different laws including Income tax.
  • Such budget is Normally passed on 28 th February
  • Changes in Budget take effect from normally 1 April onwards.
  •  However sometimes it is specified the date from which changes will take effect
  • Sometimes it is done Retrospectively also (i.e. from back date)

 

 

Finance Act,2015 is applicable for May 2016 exams

  1. Tax Practical
  2. Practical Income Tax

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.