Insurance Question:
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What is assessment year and previous year?
Answer:
Assessment year is the year in which the income earned is
assessed. Previous year is the year in which income is
earned. Eg. AY 2009-10 and prev year is 2008-09
assessed. Previous year is the year in which income is
earned. Eg. AY 2009-10 and prev year is 2008-09
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