Assessment year is the period of 12 months commencing from_every year.

Related MCQs

• The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .
• In Assessment year, the tax will be calculated at
• As per Income Tax Act, 1961, income tax is charged on the income of at a rate which are prescribed by the Finance Act of relevant assessment year.
• Agricultural income is completely exempted for assessment year .
• Citizenship is the criteria of assessment
• Gain on disposal of immovable property is chargeable to at _____%, where holding period is up to one year.
• Previous year means the financial year immediately preceding the .
• Capital gain tax shall not be chargeable on disposal of securities which are held for a period of __________.
• Deduction under Section 80C can be claimed for fixed deposit made in any scheduled bank, if the minimum period of deposit is .
• Mr. X has started his business from 2nd Sept,2019 and does not have any other source of Income, his first previous year will start from