Assessment Year or Finanacial Year is Both are same or
Different.
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Answer / srinivas annavarapu
Financial year is the year you are preparing your Financial
statements / Total income stmt and submitting to Incometax
Authority.
Assessment year is starting from the ending date of the
Financial year i.e., in which year your accounts are
assessed by Income-tax department.
For Ex: If you are submitting your accounts to Incometax
Authority for Financial year 2008-09 (1st April 08 to 31st
Mar 09)the assessment year would be 2009-10.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / zamil durrani
financial year starts from 1st april and ends on 31st march
but the period for assessment year may be different.
| Is This Answer Correct ? | 7 Yes | 5 No |
Answer / nirmal
ASSESSMENT YEAR IS COMPLETELY DIFFERENT FROM FINANCIAL YEAR.
NORMALLY FINANCIAL YEAR STARTS FROM 1ST APRIL AND ENDS ON
31ST MARCH. ASSESSMENT YEAR IS COMPLETELY DIFFERENT.
| Is This Answer Correct ? | 0 Yes | 3 No |
Answer / bharath
Assessment Year starts from 1st april and ends on 31st march .
Finanacial Year maye not be from 1st april and ends on 31st
march
| Is This Answer Correct ? | 1 Yes | 8 No |
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