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Mr. Joshi runs a chemist`s shop, accounting year of which is the financial year. On November -9,2017.He sets up a chemical factory. What is the previous year for the assessment year 2018-19 for the above two businesses___________________

Correct Answer: Shop: 1-4-2017 to 31-3-2018 and factory 9-11-2017 to 31-3-2018

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Direct Tax MCQ: Mr. Joshi runs a chemist`s shop, accounting year of which is the financial year. On November -9,2017.He sets up a chemical factory. What is the previous year for the assessment year 2018-19 for the above two businesses___________________ | Extra Education