https://www.taxtmi.com/forum/issue?id=3744 The baseline rule treats the Income tax Act as it stands on the first day of the assessment year for computing total income, but this is subject to the amending provision's prescribed commencement; if an amendment is made retrospective or given a specified effective date (including mid year), that commencement provision determines whether the amendment applies to the assessment year. en-us Fri, 20 Jan 2012 10:49:44 +0530 Thu, 23 Jan 2025 15:58:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3744 The baseline rule treats the Income tax Act as it stands on the first day of the assessment year for computing total income, but this is subject to the amending provision's prescribed commencement; if an amendment is made retrospective or given a specified effective date (including mid year), that commencement provision determines whether the amendment applies to the assessment year. Discussion-Forum Income Tax Fri, 20 Jan 2012 10:49:44 +0530 https://www.taxtmi.com/forum/issue?id=3744