Previous year

2016-17 itself

Was there a law like if you are an new assessee, you will get 15 months as the previous year?

Previous year is year preceding to assessment year . but in your case previous year start from January 2017 and end on 31 March 2017 . As your case of newly set up of business or newly source of income arises in such case previous year start from the date of setup & end with the end of financial year. Thanks

Previous year is year preceding to assessment year . but in your case previous year start from January 2017 and end on 31 March 2017 . As your case of newly set up of business or newly source of income arises in such case previous year start from the date of setup & end with the end of financial year. Thanks