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What is Assesment year, 2010 - 11 which year Assesment
year ?
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Answer / h.r. sreepada bhagi
Under Income tax Act, the Financial year or the Accounting
year in respect of which the Income is assessed to tax is
called the 'Previous Year' and the next year in which
returns needs to be filed is called the 'Assessment Year'.
For the Financial year or Accounting year 2009-10,
Assessment year is 2010-11. In other words the year
immediately after the close for the financial year year is
the Assessment year for the immediate preceding accounting year.
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