Meaning of Assessment year 2008-09
This query is : Resolved
09 April 2009
Hi... As I am new to Income Tax, I ve a few queries. What is the meaning of Assessment Year 2008-09. if I have to file my ITR-4 for the last financial year, i.e. 2008-09, then what will be my Assessment Year. While going through the Income Tax website for e-filling return at https://incometaxindiaefiling.gov.in, e-filling for AY 2006-07, AY2007-08, AY2008-09 is avaliable, So which one should I choose to file my return. I ll be gratefull if anyone can guide me on this. thanks in advance...
Anshuman Bardhan
(Expert)
09 April 2009
Assessment Year means the year in which the income of the previous year which is 2008-09 is assessed. The assessment year for 31/3/09 will be 1/4/09 to 31/3/10 hence 2009-10. So AY is a year ahead of the year for whose IT return you want to file. AY 2008-09 means that income of the FY 2007-08 will be assessed in 2008-09 i.e the next year.
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10 April 2009
if finanicial year is ending on 31-3-09
assessment year is 09-10 starting from 1-4-09 to 31-3-09
assessment year is 09-10 starting from 1-4-09 to 31-3-09
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