4 Replies
shekar
(Others)
(29 Points)
Replied 27 January 2021
This is the time in which the income earned during Financial Year is calculated and taxed.
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 27 January 2021
As per section 2(9) of the Income Tax 1961,
"assessment year" means the period of twelve months commencing on the 1st day of April every year.
"previous year" means the financial year immediately preceding the assessment year
Kapadia Pravin
(17244 Points)
Replied 27 January 2021
ayusmita
(Tax consultant)
(5880 Points)
Replied 27 January 2021
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