Q437
As per the terminologies defined by the Income Tax Act, the year in which income is earned is called . . . . . . . . and in which the income is taxable is called . . . . . . . .
A.
previous year; assessment year
AnswerB.
assessment year; previous year
C.
previous years; taxable year
D.
financial year; assessment year
E.
assessment year; taxable year
Answer: Option A
Solution
Answer: Option A
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