Taxation · Income Tax Act
A new business was set up on 1st July 2018 and its trading activity commenced on 1st September 2018. Under the Income Tax Act, the first previous year for this business would be the period commencing from:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11st October 2018 to 31st March 2019
- 21st July 2018 to 31st March 2019✓
- 31st September 2018 to 31st March 2019
- 41st April 2018 to 31st March 2019
Correct answer
1st July 2018 to 31st March 2019
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