Interpretation
This query is : Resolved
31 July 2012
What does wef 01-04-2012 mean???AY 12-13 or FY 12-13?? Please also mention the source for confirmation...
31 July 2012
Assessment year is applicable to the previous year. Income earned during the previous year is assessed to tax in the Assessment Year.
All provisions are applicable from the start of the Financiall Year and NOT from the start of the Assessment Year.
So, w.e.f 1.4.2012 means previous year 2012-13 (AY 2013-14)
All provisions are applicable from the start of the Financiall Year and NOT from the start of the Assessment Year.
So, w.e.f 1.4.2012 means previous year 2012-13 (AY 2013-14)
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