Mr. Joshi runs a chemist's shop, accounting year of which is the financial year. On November -9,2017. He sets up a chemical factory. What is the previous year for the assessment year 2018-19 for the above two businesses___________________

Question

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For the chemist's shop, the previous year is the financial year prior to the assessment year 2018-19, which is 1-4-2017 to 31-3-2018. For the chemical factory set up on November 9, 2017, the previous year would start from the date of setup to the end of the financial year, i.e., 9-11-2017 to 31-3-2018.

Mr Joshi Runs a Chemist's Shop, Accounting Year of Which