What is Assessment year
Answer
A. O Year of accounting transaction
B. O Year of computation of tax
c. O both a & b above
D. None of the above
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Answer:
The assessment year (AY) is the year that comes after the FY. This is the time in which the income earned during FY is assessed and taxed. Both FY and AY start on 1 April and end on 31 March.
Explanation:
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