Assessment Year or Finanacial Year is Both are same or
Answers were Sorted based on User's Feedback
Answer / srinivas annavarapu
Financial year is the year you are preparing your Financial
statements / Total income stmt and submitting to Incometax
Assessment year is starting from the ending date of the
Financial year i.e., in which year your accounts are
assessed by Income-tax department.
For Ex: If you are submitting your accounts to Incometax
Authority for Financial year 2008-09 (1st April 08 to 31st
Mar 09)the assessment year would be 2009-10.
|Is This Answer Correct ?||6 Yes||0 No|
Answer / zamil durrani
financial year starts from 1st april and ends on 31st march
but the period for assessment year may be different.
|Is This Answer Correct ?||7 Yes||5 No|
Answer / nirmal
ASSESSMENT YEAR IS COMPLETELY DIFFERENT FROM FINANCIAL YEAR.
NORMALLY FINANCIAL YEAR STARTS FROM 1ST APRIL AND ENDS ON
31ST MARCH. ASSESSMENT YEAR IS COMPLETELY DIFFERENT.
|Is This Answer Correct ?||0 Yes||3 No|
Answer / bharath
Assessment Year starts from 1st april and ends on 31st march .
Finanacial Year maye not be from 1st april and ends on 31st
|Is This Answer Correct ?||1 Yes||8 No|
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