Economics · Income Tax
Under the Indian Income Tax framework, if an assessee sets up a new business on October 1, 1987, and does not close the books until March 31, 1989, what will be the duration of the 'previous year' corresponding to the assessment year 1989-90?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 16 months
- 212 months
- 318 months✓
- 424 months
Correct answer
18 months
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