what is assessment year and previous year ?

Answers were Sorted based on User's Feedback



what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

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

what is assessment year and previous year ?..

Answer / manish pandey

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

what is assessment year and previous year ?..

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

Post New Answer

More Taxation Interview Questions

on earth moving road work which type of tax is applicable?

0 Answers   Afcons,


when Form-16 and Form-11 issued? what is difference in these two?

2 Answers   Sabic,


What is tds and who is liable to deduct tds

7 Answers  


please tell me friends what are the formats of excise return and vat return?

0 Answers   Visa,


Hi, When your orgnization is applicable for VAT payment..? Payment date of VAT ? Return date of VAT ? What is VAT Summary..?? What is Vat Set off ?? Which Entry to be passed after filing return or payment..??? I will be very thankful to you if anyone can give the detail in short how to file VAT return..? which form etc..?????

1 Answers  






What is the reason of charging surcharges?

2 Answers  


How to make a bill of software sale with service tax?

0 Answers  


what is the entry tax explain briefly?

0 Answers  


what is the rate of exices in haryana

2 Answers  


Can anybody explain? what's consumeble items?

3 Answers  


why VAT not charged in deemed sales bill.

0 Answers   ME,


if waybill issued by consignor , then c form issue whose responsibility?

0 Answers   Saira Bath Concepts,


Categories