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MINISTRY OF LAW AND JUSTICE
(Legislative Department)
New Delhi, the 29th March, 2018
The following Act of Parliament received the assent of the President on the 29th March, 2018, and is hereby published for general information:—
THE FINANCE ACT, 2018
NO. 13 OF 2018
[28th March, 2018.]
An Act to give effect to the financial proposals of the Central Government for the financial year 2018-2019.
BE it enacted by Parliament in the Sixty-ninth Year of the Republic of India as follows:—
CHAPTER I
PRELIMINARY
1. Short title and commencement:
(1) This Act may be called the Finance Act, 2018.
(2) Save as otherwise provided in this Act, sections 2 to 55 shall come into force on the 1st day of April, 2018.
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what about the cases of retirement during the year before the above amendment was made. The employers have considered exemption as per the old Limit of Rs.10 lacs, deducted tax at source and deposited also with Central Govt.
Should they revise calculation considering exemption of Rs.20 lacs? What about TDS already recovered>