The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .
A) previous year
B) assessment year
C) accounting year
D) financial year
Correct Answer:
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Q2: The Income Tax Act came into force
Q3: The Income Tax Act came into force
Q4: As per Income Tax Act, 1961, income
Q5: The tax payer liability is determined with
Q6: As per the definition of Income, the
Q8: Previous year means the financial year immediately
Q9: Agricultural income is completely exempted for assessment
Q10: The income from foreign companies by providing
Q11: The awards and rewards are exempted from
Q12: Income received in India whether occurred in
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