what is assessment year and previous year ?

Answer Posted / satya

Previous year: The year in which we earned Income is called
previous year.

Assessment year: The year in which we have paid tax for
income.


i.e: Previous year: 2005 - 2006 (The year in which we
earned Income)

Assessment year: 2006 - 2007 (The year in which we
have paid tax)

Is This Answer Correct ?    17 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

anybody pls tell me about the service tax

1560


how to calculate service tax on tds

1745


cst rates

1466


what is D-1, D-2, Vat-C4,

2097


Can I know the full description about capital and revenue in nature? and also the expenses that allowed for tax and not allowed for tax?

1452






what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.

1560


A person somehow gets hold of an extraordinary rare bird, keeps it as a pet for two years and then sells it off. Will related profit be taxable as capital gain?

1643


What is Cenvat

3176


If concern supply garments from outside purchase to movie producer for their production then is it maintain Service Tax if yes then how and at first what steps I have to take?

1462


WHAT IS THE DIFFERED ASSET , WHAT IS THE PROVISION OF IT GIVT ME THE EXAMPLE WITH ENTERY ON MY E.MAIL sonidilip87@yahoo.com

1470


A Service provided has provided bill amounting rs. 100000 dt. 30/04/2013 & i have paid amount with 30000 Rs. as on 24/5/2013, & 20000 paid on 7/6/2013 & rest of the amount has been paid as on 15/6/2013 then on which amount TDS has been deducted. may it deducted on Bill amount or payment amount? If bill amount then at which date TDS entry should be done ? & if on Payment date then which date. and if i want to compute interest for late payment of TDS then Which date should be consider for interest payment computation. Do the needful for the same.

1471


what is form requirment for monthly, quartely, and yearly sale return for haryana

1632


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

1059


what is tax avoiding?

1571


WHAT IS CORPORATE TAX ?

1767