AIBE Prep › Papers › AIBE XIII — December 2018 › Q.90
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Q.90
Constitutional Law Medium Knowledge-Based
Bare Act Income Tax Act, 1961 · Section 3 (Previous Year) / Section 2(9) (Assessment Year)

A period of 12 Months commencing on the 1st day of April of every year is known as:

✓ Assessment year Answer
B Leap year
C Previous year
D None
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Explanation & Strategy

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Under Section 3 of the Income Tax Act, 'assessment year' means a period of 12 months commencing on the 1st day of April every year. For example, AY 2024-25 runs from April 1, 2024 to March 31, 2025.

At a Glance
Subject Constitutional Law
Difficulty Medium
Act Income Tax Act, 1961
Section Section 3 (Previous Year) / Section 2(9) (Assessment Year)
Answer (A) Knowledge-Based
Paper AIBE XIII — December 2018
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📖 Open Book — Reading Mode Income Tax Act, 1961