Assessment year.
SUMIT BADYAL (709 Points)
07 May 2021
hi, I'm always confused in selecting A.Y, please tell assessment year for April 2021?
7 Replies
SUMIT BADYAL
(709 Points)
Replied 07 May 2021
If we file the April 2021 month tds, the assessment year is 2022-2023
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 07 May 2021
Yes you are right. AY in this case is 22-23
prasad Nilugal
(3914 Points)
Replied 08 May 2021
Assessment year means , In the year your Income Tax liability will be assessed for payment. So Income tax liability of F.Y 21-22 will only be assessed in the year 22-23 accordingly we are making payments file our returns in July and September as the case may be .
SUMIT BADYAL
(709 Points)
Replied 11 May 2021
But if we file tds return for march 2021 month in may 2021 then the assessment years would be 2021 to 2022 or 2022 to 2023
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 11 May 2021
Simple, FY in respect of the TDS return for Q4 is 20-21, so AY is 21-22
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