what is assessment year and previous year ?
Answer Posted / rajesh kumar srivastava
ACCORDING TO SECTION 2(9)ASSESSMENT YEAR (AY) IS THE PERIOD
OF 12 MONTH WHICH STARTS FROM 1ST APRIL AND ENDS 31ST MARCH.
ACCORDING TO SECTION 2(34),PREVIOUS YEAR MEANS THE PREVIOUS
YEAR AS DEFINED IN SECTION 3 OF THE ACT. SECTION 3 OF THE
ACT DEFINES PREVIOUS YEAR AS THE FINANCIAL YEAR IMMEDIATELY
PRECEDING ASSESSMENT YEAR e.g.INDOME EARNED DURING PREVIOUS
YAER 1.4.2009 TO 31.03.2010 WILL BE ASSESSED OR CHARGED TO
TAX IN A.Y. 2010-2011
Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
Is there any criteria for percentage define of TDS rates? and What is the major advantage of introducing DTC and GST by Central Govt?
is there easy guide for the latest India tax & accounting information for 2010?
what do u meant by investment banking
How is income tax calculated?
What's format of CMO & CMA Data?
What is Labour Cess? Pl. define. & what is rate of Labour cess.
what the procedure of filing mvat pls. explain in briefly ?
which date Entry Tax has been started by Himachal Govt. and Please let us know the which act under Entry tax comes
which items should be covered the Entry Tax by HP Govt instead of Purchased
if salary paid per month Rs 80000/ I will deduct TDS from his salary, please what I do explain.(send Urgently)
Define deferred tax liability? What items come under deferred tax liability?
If i want to change a proprietor concern yo a partnership concern. do i have to pay full tax on every product i have in stock or just simple make a partnership deed and apply a new pan card and register in sale tax department ?
my manufacture company established in Excise exempted Area. and we pay freight to transpoter.& also deduct service tax.what will be the entry of this transaction. can i adjust this service tax payable from input service tax of telephone bill.
what is the percentage of W.C.T T.D.S to deduct from vendor, and is this includes T.D.S deduction or again T.D.S has to deduct separately?
why VAT not charged in deemed sales bill.