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Que: Which of the following statement is not correct in relation to difference between financial year and Assessment year?

A. The financial year is the time period where income is earned while the assessment year that follows is the financial year and the period in which tax returns are filed.

B. Income is always earned in the period known as the assessment year it cannot be taxed prior to being earned while After money has been earned by an individual it will be evaluated for the purpose of taxation in the latter that is the financial year.

C. Both a and b

D. None of the above

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*Financial Year*	*Assessment Year*
The financial year is the time period where income is earned.	The assessment year that follows is the financial year and the period in which tax returns are filed.
The financial year is when salaried professionals, businessman and senior citizens earn their earned in the financial money.	While AY is the time when the income that was year gets evaluated.
Taxation and evaluation are carried out in the AY for the income that has been earned in the financial year.	Income Tax Return Forms are specialized forms for the evaluation and taxation of FY income.
Income is always earned in the period known as the financial year it cannot be taxed prior to being earned.	After money has been earned by an individual it will be evaluated for the purpose of taxation in the latter, that is the AY.