Financial year as uniform accounting year - Removal of difficulties faced by companies during transitional previous year relevant for assessment year 1989-90 and also in subsequent years

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..... es during transitional previous year relevant for assessment year 1989-90 and also in subsequent years The concept of uniform accounting year is being brought in form of the assessment year 1989-90, as per section 3 of the Income-tax Act, 1961, as amended by the Direct Tax Laws (Amendment) Act, 1987, so that the first uniform date on which the companies are required to furnish to assessing author .....

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