• 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)

 

Budget declared in Feb 2019 is of

Financial Year 2019-20

Assessment Year 2020 - 21

 

Budget declared in Feb 2018 is of

Financial Year 2018-19

Assessment Year 2019 - 20

  1. Taxation for CA, CS, CMA Exams May - June 2019
  2. 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 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.