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What is assessment year

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 October 2014 our company is going to pay TDS on consulting fees paid to one candidate .i am going to pay it online now, in the challan assessment year is asked. please let me know the assessment year ...Thanks
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CMA RAVI

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CMA RAVI (Expert)
22 October 2014 Assessment Year refers to one year ahead of financial year. ie. for FY 2014-2015, assessment year is AY 2015-2016.
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