what is assessment year and previous year ?
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Answer Posted / jambulingam
Assesment year is the year for which the TAX is to be
assed. Assesment year is always the current financial year.
Previous year could be well inferred which will be any year
previous to assesment year.
eg. 2009-2010 is assesment year.
Previous year may be any year prior to 2003-2010
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