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Previous - assessment year

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2014 WHAT IS MEANING OF FOLLOWING SENTENCES

INCOME EARNED IN A PREVIOUS YEAR IS CHARGEABLE TO TAX IN THE ASSESSMENT TEAR
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
03 June 2014 for eg:

the if FY 2013-14 is the previous year, FY 2014-15 is the assessment year. so income earned in FY 2013-14 is charged to tax in FY 2014-15
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Guest

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Guest (Expert)
03 June 2014 SIR JI... THODA SA CORRECTION HAI NA

income earned in fy 13-14 is charged to tax in ay 2014-15
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2014 IF IT IS CHARGE TO TAX IN AY 2014-15 THEN Y WE PAY IN FY 2013-14
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
03 June 2014 Yes. Your interpretation is correct
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
03 June 2014 Bothra,

What I am trying to explain is the concept of what is the previous year and what is assessment year..
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Guest

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Guest (Expert)
03 June 2014 thank u nikhil sir ji, i got it now... thanks
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Querist : Anonymous

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Querist : Anonymous (Querist)
03 June 2014 I NOT GOT ANSWER OF MY LAST QUESTION
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