Tax Liability u/s 64(1)(iii) Applies Only If Present at Income Accrual, Not Retrospectively.

Tax Liability u/s 64(1)(iii) Applies Only If Present at Income Accrual, Not Retrospectively. https://www.taxtmi.com/highlights?id=48526 Scope and applicability of Section 64(1)(iii) w.e.f. 1.4.1976 - from the date mention of that FY OR AY - liability can only be fastened on an individual if the same was existing at the time of accrual and not at the time of assessment and new liability under the IT Act cannot be given a retrospective effect - applicable in FY 1976-77 i.e AY 1977-78 not in AY 1976-77 en-us Fri, 09 Aug 2019 07:22:02 +0530 Fri, 09 Aug 2019 07:22:02 +0530 TaxTMI RSS Generator Tax Liability u/s 64(1)(iii) Applies Only If Present at Income Accrual, Not Retrospectively. https://www.taxtmi.com/highlights?id=48526 Scope and applicability of Section 64(1)(iii) w.e.f. 1.4.1976 - from the date mention of that FY OR AY - liability can only be fastened on an individual if the same was existing at the time of accrual and not at the time of assessment and new liability under the IT Act cannot be given a retrospective effect - applicable in FY 1976-77 i.e AY 1977-78 not in AY 1976-77 Highlights Income Tax Fri, 09 Aug 2019 07:22:02 +0530 https://www.taxtmi.com/highlights?id=48526