10:25
Tharik Ahamed
tags: what is an assessment year and what is a previous year,what is an assessment year of income tax,what is an assessment year income tax india,what is an assessment year india tax,what is assessment year and previous year,
What is assessment year? Section.2(9)
An assessment year is the period of twelve months starting from 1st april of every ending on 31st march of the next year.
For Example the current assessment year for 1st April 2011 to 31st march 2012
What is a previous Year ? Section.3
The year in which income is earned is known as previous year Generally, the income earned in a year is taxable in the year is taxable in the next year
For example the PY for 31st march 2011 to 1st April 2010...
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