Question

If the financial year from 1st april 2005and the books beginning from is january 2006then what will be the closing date mcq

Answer 1

closing date will be 31st march 2006 .. 

Answer 2

Answer:

The closing date will be $31$st March $2006$.

Explanation:

• The calendar year in which you received your money is known as the financial year.
• Each calendar year begins on April $1$st and concludes on March $31$st of the following year.
• The financial year is a $12$-month time period utilised for tax purposes.
• The income is calculated based on an estimate of the yields harvested in February and March.
• Thus, a two-month period gives the government an indication of whether revenue will increase or decrease.
• As a result, it is one of the primary reasons why the fiscal year runs from April to March.

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