Previous year

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1 Points Posted on 12 April 2020
in this year what will be our previous year
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On 12 April 2020 at 15:01 Report
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The 'previous year' in income tax refers to the 12-month period from April 1st to March 31st, during which your income is earned. For example, for the assessment year 2020-21, the previous year was April 1st, 2019, to March 31st, 2020. The assessment year is the subsequent 12-month period when you are required to file your tax return based on the income from the previous year.

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212 Points Posted on 12 April 2020
For assesment year 2020.21
the previous year will be 1.4.2019. 31.3.2020
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On 12 April 2020 at 15:35
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Company Secretary
36678 Points Posted on 12 April 2020
Previous year is a period in respect of which a person has to pay tax. In income tax act the previous year is a period of 12 months beginning from April 1 to March 31. Assessment year is a 12 months period following the previous year during which the assessee has to file his return of income.
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On 12 April 2020 at 16:32

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