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Previous year
in this year what will be our previous year
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For assesment year 2020.21
the previous year will be 1.4.2019. 31.3.2020
the previous year will be 1.4.2019. 31.3.2020
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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