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what is assessment year and previous year ?
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Answer Posted / swathi
assessment year means the period of 12months commencing from
1st April of every year and ending on 31st March next.
e.g: 1st April 2009 to 31st March 2010
previous year is the preceding 12months period in the
relevant assessment year.
e.g: 1st April 2008 to 31st March 2009.
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