Question

As per taxation terminology, Income of a particular year is taxable in the immediately following year. Immediate following year is called as …………………Year.

A Next Year Correct Answer Incorrect Answer
B Taxable year Correct Answer Incorrect Answer
C Previous Year Correct Answer Incorrect Answer
D Assessment Year Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Income of a particular year is taxable in the immediately following year. The immediate following year is called as Assessment Year.

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