Assessment Year is the year in which one file Income-tax returns of the year prior to it (i.e. Financial Year). It is the year in which the income that one has earned in the financial year that is just ended is evaluated.
E.g. For for Financial Year 2020-21, the Assessment Year will be 2021-22.
Assessment Year, Tax filing Assessment Year, Tax Payment Assessment year Explained the meaning of assessment year.
assessment year, financial year, taxes, return filing, income tax, income tax return, fy start date, fy end date, assessment order, period of assessment year.This page defines assessment year and its period with examples. Also which details are processed or assessed during an assessment year.
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