Question
Download Solution PDFIn India, the financial year runs from ____________ to _____________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is April 1, March 31.Key Points
- India's financial year starts on April 1 and ends on March 31 of the following year.
- This is the most widely accepted and followed financial year cycle in India.
- It is also known as the fiscal year and is used for accounting, budgeting, and taxation purposes.
Additional Information
- To put it simply, the Financial Year is the twelve months during which revenue is earned.
- Revenue earned during the current Fiscal Year (FY) 2022–2023 will be evaluated starting on April 1, 2022, and ending on March 31, 2023.
- Financial reporting by companies and other organizations is another use for it.
Last updated on May 28, 2025
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