A new business was set up on15-11-2008 and it commenced its business from 1-12-2008. The ﬁrst previous year in this case shall be:

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Mr. Dubey • 52.30K Points
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Q. A new business was set up on15-11-2008 and it commenced its business from 1-12-2008. The ﬁrst previous year in this case shall be:

(A) 15-11-2008 to 31-3-2009

(B) 2008-09

(C) 2009-10

(D) none of the above

Correct : Option (B)

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