uniform previous year
Akansha Roy (1 Points)
06 March 2019
what is uniform previous year? is previous year also known as uniform previous year?
Akansha Roy (1 Points)
06 March 2019
Lisha Bansal
(CA Finalist)
(2595 Points)
Replied 06 March 2019
Hi Akansha
I think previous year that remains the same for all will be termed as uniform previous year. Yes, both previous year and uniform previous year should be the same.
Lisha Bansal
(CA Finalist)
(2595 Points)
Replied 06 March 2019
Also since the query is in regard to direct tax, uniform previous year means the previous year for which you are filing return should remain same for all the sources of income i.e. salary, capital gain, house property etc.
Nayan Reddy
(accounts)
(274 Points)
Replied 06 March 2019
Uniform for all assessees, i.e from 1st April to 31st March.
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