what is assessment year and previous year ?
- 50 Answers
- 148860 Views
- Bank Exams, Chartered Accountant, ICICI, SSC, TATA, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / goutham kumar
let me say u a example to make u clear about PREVIOUS YEAR & ASSESSMENT YEAR
suppose u have earned a income in the financial year 2010-2011(april,2010-march,2011) u need to pay income tax on income earned on above year in the year 2011-2012
Now, 2010-2011 comes under previous year and
2011-2012 comes under assessment year
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / amora
Previous year is a year wherein income is earned.Assessment year is a year wherein tax is paid.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / s.m.fathima farhana
Previous means 'coming before'..simply said that previous
year means financial year preceeding the assessment year.
Assessment year means on what time u have paid the income
tax behalf of the previous year's income..tax paid by
relevant financial act..
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / samaresh bhunia
assesment year means in which year we calculate tax i.e-current financial year.
previous year means simply in which year we earned some income.i.e-before year
assesment year-2010-2011
previous year-2009-2010
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / harendra singh
Previous year is that year in which income is earned and assessment year is that year in which the tax is paid on the income.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rupa jame
assessment year is the period where the income earned
preceeding assessment year is assessed. Assessment year is
2010-11 then Previous year is 2009-10
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mrinal
Assessment year is the year in which you file your returns
for the Income earned for the financial year, which had
just ended.
For example if you are filing income tax returns in July
2010, then you would be filing returns for Financial Year
2009 – 2010 & this is what is called Assessment Year.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / abhayranu
i am working in 2011-12 is called assesment year.but
previous year called 2010-2011.
| Is This Answer Correct ? | 0 Yes | 0 No |
Assessment year is the year in which Income of person are
assest, normally it is the year next to the year in which
Income is earned. Whereas Previous Year is the year in which
income are earned.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / 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
| Is This Answer Correct ? | 0 Yes | 0 No |
What will be the planned expenditure in the budget 2009-10
If A manpower supplier bills to a acompany for rs.100000 for pure labour supply what entry will be done in terms of reverse charges.
I want to know for Financial year 09-10 i.e 01.04.09 to 31.03.2010 what is the Assessment year
Dear Friends, Hai, i want to Know that How To Fill ETDS Return. Kindly Tell I'wll we very thankful to you. Deepak Gupa
what is mis
What is the Exice leavy of food items ?
accounting taxation
What is the job of a accountant other than maintening accounts books?What type of Tax he should familiar to work as an Accountant?
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
Hello Durgaprasad Sir, iam received a farmat of credit availed and utilized from Excise and Service tax department, but i have no idia for filling this farmat. can you tell me detail about this or tell me where it available in internet.
What is Service Tax, what percentage it was deducted in shipping company.
Pass a entry for salary payment basic 5000, HRA 3000, Medical 200, TDS 500 Adv 200 & deducted PF with narration.
Audit 
