Question

as per income tax act accounting period is?​

Answer 1

Under the technical phrase of the income tax law, this accounting or financial year is also known as the “previous year” of the assessee. For example, the period starting from 1 April 2012 and ending on 31 March 2013 will be treated as the financial year (FY) 2012- 2013, or the accounting year 2012-2013.

Answer 2

Under the technical phrase of the income tax law, this accounting or financial year is also known as the “previous year” of the assessee. For example, the period starting from 1 April 2012 and ending on 31 March 2013 will be treated as the financial year (FY) 2012- 2013, or the accounting year 2012-2013.

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