50 lakh for scrutiny and assessment of income tax return for the assessment year 2010-2011 filed by a construction firm based in Gandhinagar.
What does AY stand for?
AY stands for Assessment Year (business/tax)
This definition appears frequently and is found in the following Acronym Finder categories:
- Military and Government
See other definitions of AY
We have 8 other meanings of AY in our Acronym Attic
- Academic Year
- Aero Oy (formerly Finnair)
- Alien Youth (band)
- Alienated Youth (band)
- Allegheny and Western Railway Company
- Alliance Youth
- Alphatian Year (fictional, Dungeons & Dragons)
- American Youth
- Angus Young (singer)
- Finnair, Oyj - Finland (IATA code)
- Y-Axis Acceleration
- Abutia Youth Association (Ghana)
- Academic Year Abroad
- Acuaductos Y Alcantarillados (Costa Rican water service)
- Acute Yellow Atrophy
- Adolescent/Young Adult
- Advaita Yoga Ashrama
- Aguirre y Aranzabal (Spanish gun manufacturer)
- Ahveniston Yläaste (Finnish school)
Samples in periodicals archive:
THE Andhra Pradesh income tax authorities have slapped taxes close to ` 8 crore on the Hyderabad Cricket Association ( HCA) under " various heads" for assessment year 2010- 11, during which the body hosted an India- New Zealand Test match.
Can I file the application after filing the tax return for the relevant assessment year when the income has been earned?
This notification shall be deemed to have come into effect from the first day of April, 2012, and shall, accordingly, apply in relation to the income of the assessment year 2012-13 and the subsequent years," it added.
Allaying the fears of the Indian expatriates, financial expert and head of project financing in RasGas, Ravi Shankar, said according to DTC proposal, an NRI will be deemed as resident for an assessment year ONLY in such conditions as if he stays in India for 182 days or more in the previous year OR if his stay in India should be 60 days or more in the previous year and 365 days or more during the four years immediately preceding the previous year.
Because of changes to the assessment, the 2009 results cannot be compared to those from previous assessment years.
Furthermore, in case an NRI resides in India for a period of 365 days or more over a period of four years prior to the assessment year, he is also liable to pay tax on his global income.
The report compares national and state results in 2009 with every prior assessment year back to 1992.