What is the difference between income year, financial year
and FBT year?
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Answer Posted / sunil
INCOME YEAR IS THE YEAR IN WHICH INCOME TAX IS LEVIED ON THE
INCOME EARNED IN FINANCIAL YEAR( i.e ASSESSMENT YEAR) ,
WHILE FINANCIAL YEAR IS THE YEAR IN WHICH INCOME IS
EARNED.FBT YEAR IS THE YEAR IN WHICH FBT IS CALCULATED &
DEPOSITED
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