Section 3 Income Tax Act 2025
Definition of “tax year” .
3. (1) For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April.
(2) In the case of a business or profession newly set up, or a source of income newly coming into existence in any financial year, the tax year shall be the period beginning with—
| (a) | the date of setting up of such business or profession; or |
| (b) | the date on which such source of income newly comes into existence, |
and ending with the said financial year.