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As per income tax act accounting period is? |
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Answer» he technical phrase of the INCOME TAX LAW, this ACCOUNTING or financial year is also known as the “previous year” of the assessee. For example, the PERIOD starting from 1 April 2012 and ending on 31 March 2013 will be treated as the financial year (FY) 2012- 2013, or the accounting year 2012-2013. |
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