Forums
Back
amendment
Corporate & Other Laws
Any amendment gives retrospective effect means what?
Answers (11)
A clarification amendment of this kind will have a retrospective effect, so if the primary act was already in effect when the Constitution took effect, the amending act will also be included in that body of law. (It became effective at a time before it was approved)
R Yashwanth Kumar
If present date is 3/12/2022 and assume for example amendment came that salary will be increased from 1/4/2022 it is retrospective effect
if present date is 3/12/2022 then the provision will apply (i.e to increase salary ) then this will apply as and when he had joined the company i.e from start
Sowmiya A
if present date is 3/12/2022 then the provision will apply (i.e to increase salary ) then this will apply as and when he had joined the company i.e from start
means it is treated as a law already existing and not as amendment
Sowmiya A
means it is treated as a law already existing and not as amendment
For example, if we charge depreciation on SLM and have been doing so for 5 years, We now use the WDV approach. If the change is to be retrospective, then the entire depreciation charged during the past 5 years will be adjusted according to WDV by adjusting the same in the current year
CA Suraj Lakhotia Admin
Depreciation method change is prospective
ok sir sorry i just said that as example for retrospective effect sir sorry sir
CA Suraj Lakhotia Admin
Example is fine. Nothing wrong. Just corrected the concept so that others so donâ??t misinterpret. No need to be sorry. We all are here to learn.
thank you sir this platform is very useful sir for learning and also for understanding sir
Your Reply