AIBE XVIII 2023 Set A Question 86

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Question 86 of 100 AIBE XVIII 2023 Set A

Which of the following would be the first previous year in case of a business or profession newly set up on 31st March, 2020 as per the Income Tax Act, 1961?

A Start from 1st April, 2019 and will end on 31st March, 2020.
B Start from 31st March, 2020 and will end on 31st March, 2020. Official answer
C Start from 1st April, 2020 and will end on 31st December, 2020.
D Start from 1st January, 2020 and will end on 31st March, 2020