GK
TAXES IN INDIA
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
If business is set up on 1st September, 2015, previous year in this case shall be
|
|
Either a or b at the discretion of assessee
|
|
|
Either a or b at the discretion of assessing officer
|
|
|
The period beginning with 1st April, 2015 and ending with 31st March, 2016
|
|
|
The period beginning with 1st September, 2015 and ending with 31st March, 2016
|
Explanation:
Detailed explanation-1: -Previous year is also known as Financial Year. It basically means the period starting from April 1 and ending on March 31 of the next year. For the income earned in the previous/financial year, tax is paid in the assessment year.
There is 1 question to complete.