Pending professional review. This content was drafted with Claude from official sources and has not yet been reviewed by an ArthaKara professional. Verify against the official sources before relying on it.
Simple meaningThe year after the financial year in which income is assessed and the return is filed.
Relevant ActIncome-tax Act, 1961
Section / ruleSection 2(9)
Technical meaning
Under the Income-tax Act, 1961, the period of twelve months starting on 1 April every year, in which income of the previous year is assessed.
Practical example
Income earned in FY 2025-26 is assessed in AY 2026-27.
Related terms
Official reference
Income-tax Act, 1961, Section 2(9)
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