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TMI Blogmeaning of effective dateX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir, What is the meaning of an income tax amendment coming into force with effect from 1 st April 2020 i.e.fy 2020-2021 or ay 2020-2021 ? and an amendment coming into effect from 1.6.2020 - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = For the previous year 2020-21 (financial year) - assessment year 2021 - 22. - Reply By DEV KUMAR KOTHARI - The Reply = dates are expressed in ddmmyyy ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y pattern Usually all amendments are specified to come into force from particular date , as per preamble or with specific amendment. So one should see them. W.E.F. 01042020 will generally mean {as mentioned in preamble of FA} applicable from assessment year beginning on 01042020 i.e. assessment year 2020-21 ( relevant to previous year to end on 31032020 or PY 2019-20). WEF 01st June or some ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other date are used for procedural provisions, These come into force from date so specified. So amendment wef 01062020 will apply from 01062020. W.E.F. 02042020 will mean applicable from assessment year beginning after 02042020 i.e. assessment year beginning on 01042021 - AY 2021-22 ( relevant to previous year to end on 31032021 or PY 2020-21). e.g. date 2nd April was used in relation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of some amendments relating to depreciation.This seems a practice followed some times. - meaning of effective date - Query Started By: - kantipudi satyanarayana Dated:- 2-3-2020 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... axTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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