#2 Basic Concepts of Income Tax | Budget, Finance Bill, Finance Act, Previous Year & Assessment Year

Basic Concepts of Income Tax | Budget, Finance Bill, Finance Act, Previous Year & Assessment Year

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Topics discussed in the Video -
00:00 - Introduction
00:48 - What is Finance Act
01:20 - What is Budget
06:16 - What is Finance Bill
21:03 - What is the Previous Year
23:20 - What is Assessment Year
33:15 - What is Exempt
33:52 - What is Amendment
36:04 - Prospective & Retrospective Amendment
40:50 - Example of Retrospective Amendment

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