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Financial year

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Querist : Anonymous (Querist)
10 September 2011 what the meaning of financial year ,previous year and assessment year?

when we say provident fund - FY 2011-12 , for which year does it applies?
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
10 September 2011
Assessment year is the year in which the income earned is
assessed. Previous year is the year in which income is
earned. Eg. AY 2007-08 and prev year is 2006-07
.
and in accounting language previous yera called as financial year.
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Abhishek Ranjan Singh

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Abhishek Ranjan Singh (Expert)
10 September 2011 FY 2011-12

means AY 2012-13
PY 2011-12



Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
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