Finance Act,2020 has been enacted on 27th March,2020 after receiving assent of The President of India. Through this act section 271AAD has been inserted in Income Tax Act,1961 through Chapter-III of Finance Act,2020. In this article we have made an effort to interpret the section in a fair manner and in true spirit of legislation. The said section shall be applicable for the period 01st April,2020 onwards (i.e. for Financial Year 2020-2021 and onwards)
Read More....