INCOME TAX
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2011
PLEASE EXPLAIN ME IN DETAIL, DIFFERENCE BETWEEN ASSESSMENT YEAR AND FINANCIAL YEAR.
CA J KUMAR
(Expert)
11 May 2011
assessment year is just next year of previous year. and income of previous year is taxable in assessment year. for example for previous year 2009-10, assessment year is 2010-11
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