What is the period for which a person’s income is taken into account for the purpose of Income-tax?

Question

person’s income is taken into account

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Sparsh bansal 2 months 1 Answer 17 views 0

Answer ( 1 )

  1. Income-tax is levied on the annual income of a person. The year under the Income-tax Law is the period starting from 1st April and ending on 31st March of next calendar year. The Income-tax Law classifies the year as (1) Previous year, and (2) Assessment year.

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