Question

what is financial year in india​

Answer 1

Answer:

From an income tax perspective, FY is the year in which you earn an income. AY is the year following the financial year in which you have to evaluate the previous year's income and pay taxes on it. For instance, if your financial year is from 1 April 2019 to 31 March 2020, then it is known as FY 2019-20..

Explanation:

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Answer 2

A financial year is a period of twelve months, used by government, business, and other organizations in order to calculate their budgets, profits, and losses. Financial year is often used in business to compare with the calendar year.

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