assessment year

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what could be the Assesment year if a firm chooses to follow calendar year for accounting ?

suppose 2017 Jan to Dec .
what is the relevant Assesment year??
Replies (10)
As per your query
Jan 17 to Mar 17 - AY 2017 - 18...
Apr 17 to Dec 17 - AY 2018 - 19
now I need to file ITR 5 a trade union's...
so it follows Jan to dec.now should I select ay 17-18 and report only April to Dec income ??🤔
or Jan to march ??
Actually my reply based on your query as per your your notified months...
But, Now you can understand the following...

We are follow our business transactions months called "Financial Year" it's from 1st April to 31st March.... Then we assessed the transactions after next FY it's called Assessement Year...


FY April 2016 to March 2017 --> AY 2017 - 2018
FY April 2017 to March 2018 --> AY 2018 - 2019...

Now you are understand...?!
sir we have only Jan to Dec financial statements ..
now how to file the return??
File the return as follows
Jan 17 to Mar 17 - AY 2017 - 18... 

Apr 17 to Mar 18* - AY 2018 - 19 (wait on its availability. it's available after March 2018)
you are supposed to maintain books prescribed under section 44AA as per accounting standards... you can follow any year but for income tax act, p.y. is April to march only
now should we request them to prepare FS for Apr mar after that have to file the ITR ??
@ ramakrishnan
yes mr. kumar
thank you sir


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