Tax Year Concept in New Income Tax Act 2025 Explained
Tax Year Concept in New Income Tax Act 2025 Meaning of Tax Year A tax year is a period of twelve months within a financial year, commencing on the 1st of April. It replaces the term ‘previous year’ as used in the Income-tax Act, 1961. The term “assessment year” has also been discontinued, and “tax… Read More »