• 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. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. Income Tax
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Davneet Singh's photo - Teacher, Computer Engineer, Marketer
Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.