what is assessment year and previous year ?
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Answer Posted / bijender singh
assesment year means the period starting from april 1 and
ending on march 31 of the next year.in this year you have
to paay tax.for example assesment year 2011-2012 will
commence on april 1,2011 and end on march 31 ,2012.
In which income is earend is known as previous year
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