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Finance Act 2020 would be applicable for Nov 21 does that mean the changes in the recent budget of feb 21 will not be applicable? Then what amendments would be made in the subject?


Priyanka Udeshi

Priyanka Udeshi

CA Inter

6K+

21-Jan-21 11:40

23

Answers (1)

Best Answer

-> Finance Act 2020 will be applicable for May 21 and Nov 21 exams. -> This years upcoming budget will be applicable for 2022 exams. It applies on 1 year gap basis. -> So, if you are preparing for Nov-21 exams with May-21 materials, then later on do amendments made between 01.11..2020 to 30.04.2021. (circulars and notifications issued by CBDT/CG) -> Amendments made upto 6 months before the relevant term are applicable for exams. For May term: Upto Oct of last year. For Nov term: upto Apr of same year.


Deepak Gupta

Deepak Gupta

CA Inter

1K+

21-Jan-21 12:58

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