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Assessment year.

SUMIT BADYAL (709 Points)

07 May 2021

hi, I'm always confused in selecting A.Y, please tell assessment year for April 2021?

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7 Replies

pavan prabhas (206 Points)
Replied 07 May 2021

April 2021 comes under A.Y 2021-22...

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 07 May 2021

AY 2021-22 FY 2020-21

SUMIT BADYAL (709 Points)
Replied 07 May 2021

If we file the April 2021 month tds, the assessment year is 2022-2023

CMA Poornima Madhava (CMA) (13097 Points)
Replied 07 May 2021

Yes you are right. AY in this case is 22-23

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prasad Nilugal (3914 Points)
Replied 08 May 2021

Assessment year means , In the year your Income Tax liability will be assessed for payment. So Income tax liability of F.Y 21-22 will only be assessed in the year 22-23 accordingly we are making payments file our returns in July and September as the case may be .