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Financial year and assessment year

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(Querist)
28 November 2013 What is Financial year & Assessment year
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Ganeshbabu K

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Ganeshbabu K (Expert)
28 November 2013 Refer section 2 of income tax act for definitions
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suppose for financial year 2012-13,,Assessment year is A.Y.2013-14
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because income earned in 2012-13 is assessed under income tax in 2013-14

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