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  1. Copilot Answer

    Difference Between Assessment Year (AY) and Financial Year …

    • A Financial Year (FY) is the 12 month period between 1 April and 31 March – the accounting year in which you earn an income. See more

    What Is The Assessment Year?

    The assessment year (AY) is the year that comes after the FY. This is the time in which the income earned during FY is assessed and taxed. Both FY and AY start on 1 April a… See more

    ClearTax
    What Is The Difference Between Ay and Fy?

    From an income tax perspective, FY is the year in which you earn an income. AY is the year following the financial year in which you have to evaluate the previous year’s inco… See more

    ClearTax
    Why Does An ITR Form Have Ay?

    Since income for any particular financial year is evaluated and taxed in the assessment year, income tax return forms have an assessment year (AY). As the income ear… See more

    ClearTax
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