Question

The term ‘ Previous year’ is defined under which section of Income Tax Act?

A Section 2 Correct Answer Incorrect Answer
B Section 6 Correct Answer Incorrect Answer
C Section 4 Correct Answer Incorrect Answer
D Section 3 Correct Answer Incorrect Answer

Solution

The term "Previous year" is defined under Section 3 of the Income Tax Act. This section provides definitions for various terms used in the Income Tax Act, and "Previous year" refers to the financial year immediately preceding the assessment year.

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