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Question
What is the financial/fiscal year?
Short Answer
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Solution
- For accounting, budgeting, and financial reporting purposes, governments and corporations utilise a 12-month period known as a fiscal year or financial year.
- The fiscal year in India begins on April 1st and ends on March 31st of the following year.
- For example, the financial year 2024-25 starts on 1st April 2024 and ends on 31st March 2025.
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