Income Tax Act 2023
Section 2 Clause 24 - Assessment Year
(as updated till Finance Act 2024)
“assessment year” means the period of 12 (twelve) months commencing on the 1st day of July every year; and includes any such period which is deemed, under the provisions of this Act, to be assessment year in respect of any income for any period;
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.