CMA Inter Paper 7 (DITX) Practice Questions - ICMAI CMA Intermediate Paper 7 Direct And Indirect Taxation (DITX) Exam

Under the Income-tax Act, 1961, income earned during a Previous Year is generally charged to tax in which year?

The same Previous Year The immediately following Assessment Year Any year chosen by the assessee The preceding Assessment Year

Correct Answer:

The immediately following Assessment Year

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