what is assessment year and previous year ?
Answer Posted / siddhant
Assessment Year
Income-tax is an annual tax imposed separately for each assessment year (also called the tax year).
This commences from 1st April and ends on the next 31st March.
Previous Year
This is generally for a period of 12 months ending on 31st March just prior to the commencement of the assessment year.
In the case of a source of income coming into existence in the middle of the year,
“This may not run for a full period of 12 months from 1st April to the following 318t March.”
In General, the “previous year” is also referred to as the “Accounting Year” or the “Income Year”.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
WHAT IS THE PROVISION FOR NET PROFIT & LOSS IN PVT LTD CO & LTD CO GIVE ME THE EXAMPLE WITH ENTERY ON MY EMAIL sonidilip87@yahoo.com
Please explain how to pass entry for VAT setoff and Service Tax Credit?
WHAT IS TDS?SHOULD WE FILE TDS TO PURCHASE A THING .SHOULD WE PAY BOTH TDS &TCS FOR THE SAME THING
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.
how to calculate and submit to the concerned authority of pf,esi,pt. explaine?
Define FBT with example & how it can be calculate ?
Our firm is 7 years old. We don't have PT registration for partners as well as employee. If we do it now, will it be a problem or how much penalty will come. Any one can give suggestion.
'A' is running a manufacturing set up. 'B' sends raw material (after paying CST) to 'A' for manufacutre of his specified product and 'A' keeps 'B's stock in his godown. Can 'A' buy this material from 'B' by raising a CREDIT MEMO and in the books regularises by passing Journal Entry Dr.Raw material inventory and Cr. 'B's Account.
I AM SAKTHIVEL,MY QUESTION IS 1.WHAT ARE THE LEDGER TO BE MAINTAINED FOR SERVICE TAX 2.KINDLY EXPLAIN WITH EXAMPLE FOR PURCHASE ALONG WITH SERVICE TAX 3.SALES ALONG WITH SERVICE TAX 4.IN TALLY E.R.P HOW I GROUP THE LEDGER 5.GIVE NECESSARY JOURNAL ENTRY FOR ALL SERVICE TAX RELATED TRANSACTION 6.ANY OTHER IMPORTANT NOTE U WISH TO INFORM ME 7.HOW I CROSS CHECK IT ### PLEASE HELP ME REGARDS SAKTHIVEL
What is the value of the Budget for 2009-10
Please tell me the rate of service tax of Transportation and the who is liable to deposit the Service Tax, the receiver of service or provider the service
I plan to buy a new flat in Hyderabad which has never been registered before. Area of the flat is 1115 Sq. ft. I intend to know the following things.1.) what should be the amount of registration?.2.) Is there any VAT. If there is VAT what is the percentage?.3.) Is there any service tax. If so, what should be the percentage? as per F.Y 12-13 rule
why use diff vat forms like vat51 vat3 why
What is tha Central sales tax rate 2010 in andhrapradesh
how & on which amt tax should be calculate on pvt ltd company or ltd company