Previous Year Vs Assessment Year
| Previous Year (PY) | Assessment Year (AY) |
| Year in which “income earned”
(जिस साल में पैसा कमाया जाता है) |
Year following the Previous Year
(Previous Year के ठीक बाद वाला साल) |
| Year for which “Tax is being calculated”
(जिस साल “का ” Tax हम Calculate करते है) |
Year in which tax is assessed/taxed.
(जिस साल “में” हम टैक्स का Assessment (आँकलन/निर्धारण करते है) |
| For PY 2020-21, AY is 2021-22
(PY 2020-21 के लिये AY, 2021-22 होगा) |
For AY 2021-22, PY is 2020-21
(AY 2021-22 के लिये PY, 2020-21 होगा) |
